Will Smith obtained a $2,000 loan to purchase a computer. His interest rate is 7% ordinary interest for 108 days. How much inter
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Trials in an experiment with a polygraph include 97 results that include 23 cases of wrong results and 74 cases of correct results. Use a 0.01 significance level to test the claim that such polygraph results are correct less than 80% of the time. Identify the nullhypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim. Use the P-value method. Use the normal distribution as an approximation of the binomial distribution.
The computation is shown below:
The null and alternative hypothesis is
= 0.7629
Now Test statistic = z
= -0.91
Now
P-value = 0.1804
So, it is Fail to reject the null hypothesis.
There is ample evidence to demonstrate that less than 80 percent of the time reports that these polygraph findings are accurate.