An advertising agency collected a random sample of 300 businesses targeted with an advertising campaign for a large commercial bank. The sample was used to investigate the efficacy of the advertising campaign. One of the variables measured was whether the business was considering becoming a client of the bank. Of the businesses sampled, 50 of the 300 businesses reported that they were considering becoming a client of the bank. A hypothesis test was conducted to determine if this provides evidence that less than 20% of all businesses were considering becoming a client of the bank. (v) The associated p-value is 0.07 (2dp). Make a decision and conclusion for the hypothesis test in context. Use a significance level of 5% (α = 0.05).
An advertising agency collected a random sample of 300 businesses targeted with an advertising campaign for a large commercial bank. The sample was used to investigate the efficacy of the advertising campaign. One of the variables measured was whether the business was considering becoming a client of the bank. Of the businesses sampled, 50 of the 300 businesses reported that they were considering becoming a client of the bank. A hypothesis test was conducted to determine if this provides evidence that less than 20% of all businesses were considering becoming a client of the bank.
(v) The associated p-value is 0.07 (2dp). Make a decision and conclusion for the hypothesis test in context. Use a significance level of 5% (α = 0.05).
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