Answer:
Step-by-step explanation:
We know that the line has a slope of 2 and it passes through the point (3, -4).
So, we can use the point-slope form:
Where m is the slope and (x₁, y₁) is a point.
So, let’s substitute 2 for m and (3, -4) for (x₁, y₁). This yields:
Solve for y. Distribute the right:
Subtract 4 from both sides. Therefore, our equation is:
Answer: The proportion of new car buyers that trade in their old car has statistically significantly decreased.
Step-by-step explanation:
Since we have given that
p = 48% = 0.48
n = 115
x = 46
So,
So, hypothesis would be
So, test value would be
At 10% level of significance, critical value would be
z= 1.28
Since 1.28 < 1.72
So, we will reject the null hypothesis.
Hence, the proportion of new car buyers that trade in their old car has statistically significantly decreased.