Answer:
p-value: 1.000
There is enough evidence at the 1% level of significance to suggest that the proportions are not equal.
Step-by-step explanation:
We will be conducting a difference of 2 proportions hypothesis test
The hypothesis for this test is:
H_0: p1 - p2=0
H_a: p1 - p2 ≠0
(p1 ) = 252/300 = 0.84
(p2) = 195/300 = 0.65
This is a 2 tailed test with a significance level of 1%. So our critical values are: z > 2.575 and z < -2.575
See the attached photo for the calculations for this test
Answer:
The probability that no more than 70% would prefer to start their own business is 0.1423.
Step-by-step explanation:
We are given that a Gallup survey indicated that 72% of 18- to 29-year-olds, if given choice, would prefer to start their own business rather than work for someone else.
Let = <u><em>sample proportion of people who prefer to start their own business</em></u>
The z-score probability distribution for the sample proportion is given by;
Z = ~ N(0,1)
where, p = population proportion who would prefer to start their own business = 72%
n = sample of 18-29 year-olds = 600
Now, the probability that no more than 70% would prefer to start their own business is given by = P(
70%)
P(
70%) = P(
) = P(Z
-1.07) = 1 - P(Z < 1.07)
= 1 - 0.8577 = <u>0.1423</u>
The above probability is calculated by looking at the value of x = 1.07 in the z table which has an area of 0.8577.