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 1800 American adults, 62% 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 2% 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 p-value = i Critical value = i We can conclude that the percentage of all American adults who currently hold this opinion is 55%.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question
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 1800 American adults, 62% 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 2% 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
p-value = i
Critical value = i
We can conclude that the percentage of all American adults who currently hold this opinion is
55%.
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 1800 American adults, 62% 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 2% 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 p-value = i Critical value = i We can conclude that the percentage of all American adults who currently hold this opinion is 55%.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Proportions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman