George paid a total of $10,000 for stock that was $5 per share. If he sold all his shares for $15,000, how much profit on each s
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Answer:
The test statistic value is 1.474.
Step-by-step explanation:
In this case we need to determine whether the plant is making a higher than expected number of irregular t-shirts.
If more than 8% of the t-shirts manufactured at a plant are classified as irregular, the manager has to do an investigation to try to find the source of the increased mistakes in the manufacturing process..
The hypothesis for this test can be defined as follows:
<em>H₀</em>: The proportion of irregular t-shirts is 8%, i.e. <em>p</em> = 0.08.
<em>Hₐ</em>: The proportion of irregular t-shirts is more than 8%, i.e. <em>p</em> > 0.08.
The information provided is:
<em>n</em> = 100
<em>X</em> = number of irregular t-shirts = 12
Compute the sample proportion as follows:
Compute the test statistic as follows:
Thus, the test statistic value is 1.474.