According to a Pew Research Center nationwide telephone survey of adults conducted between March 15 and April 24, 2011, 55% of college graduates said that college education prepared them for a job (Time, May 30, 2011). Suppose this result was true of all college graduates at that time. In a recent sample of 1800 college graduates, 59% said that college education prepared them for a job. Is there significant evidence at a 2% significance level to conclude that the current percentage of all college graduates who will say that college education prepared them for a job is different from 55%? 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. Enter the critical values in increasing order.
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
According to a Pew Research Center nationwide telephone survey of adults conducted between March 15 and April 24, 2011, 55% of college graduates said that college education prepared them for a job (Time, May 30, 2011). Suppose this result was true of all college graduates at that time. In a recent sample of 1800 college graduates, 59% said that college education prepared them for a job. Is there significant evidence at a 2% significance level to conclude that the current percentage of all college graduates who will say that college education prepared them for a job is different from 55%? 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. Enter the critical values in increasing order.
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