### Statistical Hypothesis Testing: Proportion Change AnalysisA decade-old study found that the proportion, \( p \), of high school seniors who believed that "getting rich" was an important personal goal was 70%. A researcher decides to test whether or not that percentage still stands. He finds that, among the 225 high school seniors in his random sample, 150 believe that "getting rich" is an important goal. Can he conclude, at the 0.10 level of significance, that the proportion has indeed changed?#### Perform a Two-Tailed TestComplete the following parts:(a) **State the Hypotheses**- **Null Hypothesis (\( H_0 \))**: The proportion of high school seniors who believe "getting rich" is an important goal is 70%.- **Alternative Hypothesis (\( H_1 \))**: The proportion of high school seniors who believe "getting rich" is an important goal is not 70%.(b) **Determine the Type of Test Statistic to Use**Select the appropriate test statistic from the given options.(c) **Calculate the Test Statistic**Compute the test statistic, rounding to three or more decimal places.(d) **Find the Critical Values**Determine the two critical values, rounding to three or more decimal places.(e) **Conclusion**Evaluate whether we can conclude that the proportion of high school seniors who believe that "getting rich" is an important goal has changed, based on the test results:- Yes- No#### Explanation of SymbolsA side panel includes a selection of symbols used in statistical testing (e.g., \(\mu\), \(\sigma\), \(p\), \(X\), etc.).This exercise involves determining if there is a significant change in the belief that "getting rich" is an important goal among high school seniors, using hypothesis testing at a given significance level.

given data, claim:p=0.70n=225x=150p^ =xn=150225=0.6667α=0.10

Answered: A decade-old study found that the…

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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