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Answer:
(1) : p = 0.5,
: p > 0.5
(2) Test statistic = 3.08
(3) P-value = 0.00104
Step-by-step explanation:
We are given that a simple random sample of 1475 adults shows that 54% of Americans think the Civil War is still relevant to American politics and political life.
We have to test the hypothesis to determine if there is a strong evidence that the majority of the Americans think the Civil War is still relevant.
(1) Let Null Hypothesis, : p = 0.50 {means that 50% of the Americans think that the Civil War is still relevant}
Alternate Hypothesis, : p > 0.50 {means that majority of the Americans think that the Civil War is still relevant,i.e; more than 50%}
The test statistics that will be used here is One-sample proportion test;
T.S. = ~ N(0,1)
where, = % of Americans who think that the Civil War is still relevant in a sample of 1475 adults = 54%
p = population proportion
n = sample of american adults = 1475
(2) So, <u>test statistics</u> =
= 3.08
The value of test statistic for this hypothesis test is 3.08.
(3) P-value is given by the following situation;
P(Z > 3.08) = 1 - P(Z 3.08) {using z table}
= 1 - 0.99896 = 0.00104
So, the p-value for this hypothesis test is 0.00104.
To obtain a fast solution for this problem
I will graph both functions and find the points of intersection.
Looking at both graphs, we can see that the point of intersection is
(21.859,92.664)
The price for which the supply equals the demand is 21.859
I will graph both functions and find the points of intersection.
Looking at both graphs, we can see that the point of intersection is
(21.859,92.664)
The price for which the supply equals the demand is 21.859