Administrators at the stock exchange claim that only 8% of all companies report incorrect higher profits, but you suspect that the proportion is much higher. Use the results of the audit of 200 companies with results that 30 reported incorrect higher profits to answer the following. a. State the null and alternative hypotheses. b. Check to be sure that we are allowed to use Normal calculations. c. Complete the Test on calculator. Report the test statistic value and the p-value. d. State your conclusion regarding the results of your hypothesis test in context of the problem. How many companies should have been audited at 95% confidence level in order for the margin of error to be 3%? Use p=0.08 in your formula. Show all work. Round appropriately e.

Administrators at the stock exchange claim that only 8% of all companies report incorrect higher profits, but you suspect that the proportion is much higher. Use the results of the audit of 200 companies with results that 30 reported incorrect higher profits to answer the following. a. State the null and alternative hypotheses. b. Check to be sure that we are allowed to use Normal calculations. c. Complete the Test on calculator. Report the test statistic value and the p-value. d. State your conclusion regarding the results of your hypothesis test in context of the problem. How many companies should have been audited at 95% confidence level in order for the margin of error to be 3%? Use p=0.08 in your formula. Show all work. Round appropriately e.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 1GP

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Question

Administrators at the stock exchange claim that only 8% of all companies report incorrect higher profits, but you
suspect that the proportion is much higher. Use the results of the audit of 200 companies with results that 30 reported
incorrect higher profits to answer the following.
a. State the null and alternative hypotheses.
b. Check to be sure that we are allowed to use Normal calculations.
c. Complete the Test on calculator. Report the test statistic value and the p-value.
d. State your conclusion regarding the results of your hypothesis test in context of the problem.
How many companies should have been audited at 95% confidence level in order for the margin of error to
be 3%? Use p=0.08 in your formula. Show all work. Round appropriately
e.

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