Jorge solves the equation 4x - (x + 20) + 6 = 2(3x + 8) using the steps below.

You want to test if more than 20% of homes in a neighborhood have recently been sold through a short sale, at a foreclosure auct

Elodia [21]

Answer:

We need to conduct a hypothesis in order to test the claim that more than 20% of homes in a neighborhood have recently been sold through a short sale, at a foreclosure auction, or by the bank following an unsuccessful foreclosure auction, so then the correct system of hypothesis are:

Null hypothesis: $p \leq 0.2$

Alternative hypothesis: $p > 0.2$

Step-by-step explanation:

Data given and notation

n=60 represent the random sample taken

X=14 represent the neighborhood that have recently been sold through a short sale, at a foreclosure auction, or by the bank following an unsuccessful foreclosure auction

$\hat p=\frac{14}{60}=0.233$ estimated proportion of neighborhood that have recently been sold through a short sale, at a foreclosure auction, or by the bank following an unsuccessful foreclosure auction

$p_o=0.2$ is the value that we want to test

$\alpha$ represent the significance level

z would represent the statistic (variable of interest)

$p_v$ represent the p value (variable of interest)

Concepts and formulas to use

We need to conduct a hypothesis in order to test the claim that more than 20% of homes in a neighborhood have recently been sold through a short sale, at a foreclosure auction, or by the bank following an unsuccessful foreclosure auction, so then the correct system of hypothesis are:

Null hypothesis: $p \leq 0.2$

Alternative hypothesis: $p > 0.2$

When we conduct a proportion test we need to use the z statistic, and the is given by:

$z=\frac{\hat p -p_o}{\sqrt{\frac{p_o (1-p_o)}{n}}}$ (1)

The One-Sample Proportion Test is used to assess whether a population proportion $\hat p$ is significantly different from a hypothesized value $p_o$ .