Sally works as an estimator for G&J Electric. She has determined that 550 feet of electrical cable will be needed to wire a
1 answer:
Given :
Initial length of electric cable needed, .
Later, Sally is told that the homeowner has decide to cut back from a three-car garage to a two-car garage, which will eliminate two branch circuits, one of 23 feet and the other of 34 feet.
To Find :
How many feet of wire will be needed now.
Solution :
Wire needed is given by :
Required = Total wire - ( length of 1nd branch + length of 2nd branch )
Required = 550 - ( 23 + 34 )
Required = 550 - ( 57 ) ft
Required = 443 ft
Therefore, length of wire required is 443 ft.
Hence, this is the required solution.
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Answer:
a) Null hypothesis:
Alternative hypothesis:
b)
c) 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 1% of significance the proportion of American families owning stocks or stock funds is significantly less than 0.53 .
Step-by-step explanation:
Data given and notation
n=300 represent the random sample taken
estimated proportion of American families owning stocks or stock funds
is the value that we want to test
represent the significance level
Confidence=99% or 0.99
z would represent the statistic (variable of interest)
represent the p value (variable of interest)
Concepts and formulas to use
Part a
We need to conduct a hypothesis in order to test the claim that proportion is less than 0.53 or 53%.:
Null hypothesis:
Alternative hypothesis:
Part b
When we conduct a proportion test we need to use the z statistic, 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
.
Calculate the statistic
Since we have all the info requires we can replace in formula (1) like this:
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:
Part c
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 1% of significance the proportion of American families owning stocks or stock funds is significantly less than 0.53 .