Apply the markup or markdown to each item and then find the retail sale price of the following items. Round to two decimal plac
2 answers:
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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