Please help solve this A certain type of automobile is know
Solution
Formulating the null and alternatuve hypotheses,
Ho: p <= 0.25
Ha: p > 0.25
As we see, the hypothesized po = 0.25
Getting the point estimate of p, p^,
p^ = x / n = 0.4
Getting the standard error of p^, sp,
sp = sqrt[po (1 - po)/n] = 0.055901699
Getting the z statistic,
z = (p^ - po)/sp = 2.683281573
As this is a 1 tailed test, then, getting the p value,
p = 0.007290358
significance level = 0.05
Comparing p and the significance value, we REJECT THE NULL HYPOTHESIS.
Thus, there is significant evidence that the observed percentage increase is real. [CONCLUSION]
