Answered: A publisher reports that 67% of their…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Related questions

Question

A publisher reports that 67% of their readers own a personal computer. A marketing executive wants to test the claim that the percentage is actually over the reported percentage. A random sample of 160 found that 71% of the readers owned a personal computer. Is there sufficient evidence at the 0.01 level to support the executive's claim?

Step 1 of 6:

State the null and alternative hypotheses.

Step 2 of 6:

Find the value of the test statistic. Round your answer to two decimal places.

Step 3 of 6:

Specify if the test is one-tailed or two-tailed.

Step 4 of 6:

Determine the decision rule for rejecting the null hypothesis, H0H0.

Step 5 of 6:

Make the decision to reject or fail to reject the null hypothesis.

Step 6 of 6:

State the conclusion of the hypothesis test.