A car dealership buys vehicles from the manufacturer to sell at their dealership. Suppose that in order forthem to be profitable, they must sell more than 350 cars in a month. The management of the dealershipwants to know how often they are profitable so they sample 18 months and find that in 9 of them theywere profitable. Let p denote the probability that the dealer is profitable in a given month. In order tomeasure if the dealership is under-performing, the manager wants to know whether this probability isless than 60%. Test this hypothesis at the a = 0.05 level.(a) Set up the null and alternative hypothesis (using mathematical notation/numbers AND interpretthem in context of the problem)(b) Calculate the test statistic(c) Calculate the critical value(d) Draw a picture of the distribution of the test statistic under Ho. Label and provide values for thecritical value and the test statistic, and shade the critical region.(e) Make and justify a statistical decision at the a =of the problem.0.05 level and state your conclusions in context

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Description: A car dealership buys vehicles from the manufacturer to sell at their dealership. Suppose that in order forthem to be profitable, they must sell more than 350 cars in a month. The management of the dealershipwants to know how often they are profitab

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A car dealership buys vehicles from the manufacturer to sell at their dealership. Suppose that in order f them to be profitable, they must sell more than 350 cars in a month. The management of the dealersh wants to know how often they are profitable so they sample 18 months and find that in 9 of them th were profitable. Let p denote the probability that the dealer is profitable in a given month. In order measure if the dealership is under-performing, the manager wants to know whether this probability less than 60%. Test this hypothesis at the a = 0.05 level. (a) Set up the null and alternative hypothesis (using mathematical notation/numbers AND interpi them in context of the problem)

A car dealership buys vehicles from the manufacturer to sell at their dealership. Suppose that in order f them to be profitable, they must sell more than 350 cars in a month. The management of the dealersh wants to know how often they are profitable so they sample 18 months and find that in 9 of them th were profitable. Let p denote the probability that the dealer is profitable in a given month. In order measure if the dealership is under-performing, the manager wants to know whether this probability less than 60%. Test this hypothesis at the a = 0.05 level. (a) Set up the null and alternative hypothesis (using mathematical notation/numbers AND interpi them in context of the problem)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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