Automobiles Purchased An automobile owner found that 20 years ago, 74% of Americans said that they would prefer to purchase an American automobile. He believes that the number is much less than 74% today. He selected a random sample of 50 Americans and found that 33 said that they would prefer an American automobile. Can it be concluded that the percentage today is less than 74%? At =α0.01, is he correct? Use the critical value method with tables.   (a) State the hypotheses and identify the claim, one-tail or two-tail. (b) Compute the test value. (c) Find the P-value. (d) Make the decision. (e) Summarize the results.

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Automobiles Purchased An automobile owner found that 20 years ago, 74% of Americans said that they would prefer to purchase an American automobile. He believes that the number is much less than 74% today. He selected a random sample of 50 Americans and found that 33 said that they would prefer an American automobile. Can it be concluded that the percentage today is less than 74%? At =α0.01, is he correct? Use the critical value method with tables.

 

(a) State the hypotheses and identify the claim, one-tail or two-tail.

(b) Compute the test value.

(c) Find the P-value.

(d) Make the decision.

(e) Summarize the results.

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