According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 10% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved i

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According to a New York Times/CBS News poll conducted during June 24–28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (*The New York Times*, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 10% significance level, and use both the *p*-value and the critical-value approaches.

Round your answers for the observed value of *z* and the critical value of *z* to two decimal places, and the *p*-value to four decimal places.

**Z**ₒbₛₑᵣᵥₑ
Transcribed Image Text:According to a New York Times/CBS News poll conducted during June 24–28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (*The New York Times*, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 10% significance level, and use both the *p*-value and the critical-value approaches. Round your answers for the observed value of *z* and the critical value of *z* to two decimal places, and the *p*-value to four decimal places. **Z**ₒbₛₑᵣᵥₑ
Round your answers for the observed value of \( z \) and the critical value of \( z \) to two decimal places, and the \( p \)-value to four decimal places.

- \( Z_{\text{observed}} = \) [Input box]

- \( p \)-value = [Input box]

- Critical value = [Input box]

We can conclude that the percentage of all American adults who currently hold this opinion is [Dropdown menu] 55%.
Transcribed Image Text:Round your answers for the observed value of \( z \) and the critical value of \( z \) to two decimal places, and the \( p \)-value to four decimal places. - \( Z_{\text{observed}} = \) [Input box] - \( p \)-value = [Input box] - Critical value = [Input box] We can conclude that the percentage of all American adults who currently hold this opinion is [Dropdown menu] 55%.
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