Assume that the significance level is 001 Use the given info

Assume that the significance level is =0.01.

Use the given information to find the P-value and the critical value(s).

The test statistic of z=1.62 is obtained when testing the claim that p>0.7.

P-value is ?

The critical value(s) is/are z= ? (round to two decimal places as needed)

Solution

It is a one tailed test. So, the p-value is -

p = 1 - P(Z < 1.62) = 0.9474 = 0.0526

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At 0.01 significance level for a one tailed test, the critical Z value is -

P(Z < Z_c) = 1 - 0.01 = 0.99

So, Z_c = 2.23