In one day, the stock price for Warbucks Coffee rose from $50 to $57 per share. By what percent did this stock price rise?
1 answer:
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Answer:
Now we can calculate the p value. Since is a bilateral test the p value would be:
Since the p value is lower than the significance level of 0.05 we have enough evidence to conclude that the true proportion of residents favored annexation is higher than 0.72 or 72%
Step-by-step explanation:
Information given
n=900 represent the random sample selected
estimated proportion of residents favored annexation
is the value that we want to test
represent the significance level
z would represent the statistic
represent the p value
Hypothesis to test
The political strategist wants to test the claim that the percentage of residents who favor annexation is above 72%.:
Null hypothesis:
Alternative hypothesis:
The statistic for this case is given by:
(1)
Replacing the data given we got:
Now we can calculate the p value. Since is a bilateral test the p value would be:
Since the p value is lower than the significance level of 0.05 we have enough evidence to conclude that the true proportion of residents favored annexation is higher than 0.72 or 72%