In 2001, a company marketed 730,000 units of its product. In 2001 its yearly volume was 50% of its volume for 2004. The 2004 vol
2 answers:
Answer: 4,000 units per day.
Step-by-step explanation:
You know that in 2001 its yearly volume was 50% of its volume for 2004.
Therefore, if in 2001 the company marketed 730,000 units of its product, in 2004 the volume is:
Let be "x" the number of units for each of the 365 days of 2004, you can find its value by dividing the 2004 volume by 365.
The result is:
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Answer:
So the p value obtained was a very low value and using the significance level given we have
so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 5% of significance the proportion of people that regularly watch the TV station’s news program is significantly less than 0.38 .
Step-by-step explanation:
1) Data given and notation
n=830 represent the random sample taken
X=282 represent the people that regularly watch the TV station’s news program
estimated proportion of people that regularly watch the TV station’s news program
is the value that we want to test
represent the significance level
Confidence=95% or 0.95
z would represent the statistic (variable of interest)
represent the p value (variable of interest)
2) Concepts and formulas to use
We need to conduct a hypothesis in order to test the claim that the proportion is less than 0.38:
Null hypothesis:
Alternative hypothesis:
When we conduct a proportion test we need to use the z statisitc, and the is given by:
(1)
The One-Sample Proportion Test is used to assess whether a population proportion is significantly different from a hypothesized value
.
3) Calculate the statistic
Since we have all the info requires we can replace in formula (1) like this:
4) Statistical decision
It's important to refresh the p value method or p value approach . "This method is about determining "likely" or "unlikely" by determining the probability assuming the null hypothesis were true of observing a more extreme test statistic in the direction of the alternative hypothesis than the one observed". Or in other words is just a method to have an statistical decision to fail to reject or reject the null hypothesis.
The significance level provided . The next step would be calculate the p value for this test.
Since is a left tailed test the p value would be:
So the p value obtained was a very low value and using the significance level given we have
so we can conclude that we have enough evidence to reject the null hypothesis, and we can said that at 5% of significance the proportion of people that regularly watch the TV station’s news program is significantly less than 0.38 .