Suppose you are interested in selling your home and would like to clear a net value of $300,000. If you have agreed to pay your
1 answer:
Answer:
<h2>I need to sell the home for the price of $317,460.</h2>Step-by-step explanation:
I need to pay 5.5% of the total to the broker.
I also want to gain $300,000 as a profit. I need to sell the house in such a price, so that after giving the 5.5% to the broker, i also have $300,000.
I need to find the value of 100%, where (100 - 5.5) = 94.5% represents $300,000.
Hence, 100% = .
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Answer:
The p value for this case would be given by:
For this case the p value is lower than the significance level so then we have enough evidence to reject the null hypothesis so then we can conclude that the true proportion is significantly higher than 0.42
Step-by-step explanation:
Information given
n=1045 represent the random sample selected
X=502 represent the college graduates with a mentor
estimated proportion of college graduates with a mentor
is the value that we want to test
z would represent the statistic
represent the p value
Hypothesis to test
We want to test if the true proportion is higher than 0.42, the system of hypothesis are.:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
Replacing the info we got:
The p value for this case would be given by:
For this case the p value is lower than the significance level so then we have enough evidence to reject the null hypothesis so then we can conclude that the true proportion is significantly higher than 0.42