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Last year, 49% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicates that 37% planned to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 75 business owners. a. How many business owners in the survey planned to provide a holiday gift to their employees this year? Round your answer to the nearest whole number. b. Suppose the business owners in the sample did as they planned. Compute the p-value for a hypothesis test that can be used to determine if the proportion of business owners providing holiday gifts had decreased from last year. Enter negative value if your answer is negative. Hop - Select your answer Ha P z-value p-value 0.49 Select your answer- 0.49 (to 2 decimals) (to 4 decimals) c. Using a 0.02 level of significance, would you conclude that the proportion of business owners providing gifts decreased? - Select your answer- Ho What is the smallest level of significance for which you could draw such a conclusion? (to 4 decimals) Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012). a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. Ho: p-Select your answer - Ha: p-Select your answer- b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)? c. At a = .01, what is your conclusion? - Select your answer -

Last year, 49% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicates that 37% planned to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 75 business owners. a. How many business owners in the survey planned to provide a holiday gift to their employees this year? Round your answer to the nearest whole number. b. Suppose the business owners in the sample did as they planned. Compute the p-value for a hypothesis test that can be used to determine if the proportion of business owners providing holiday gifts had decreased from last year. Enter negative value if your answer is negative. Hop - Select your answer Ha P z-value p-value 0.49 Select your answer- 0.49 (to 2 decimals) (to 4 decimals) c. Using a 0.02 level of significance, would you conclude that the proportion of business owners providing gifts decreased? - Select your answer- Ho What is the smallest level of significance for which you could draw such a conclusion? (to 4 decimals) Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012). a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. Ho: p-Select your answer - Ha: p-Select your answer- b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)? c. At a = .01, what is your conclusion? - Select your answer -

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Last year, 49% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicates that 37% planned to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 75 business owners. a. How many business owners in the survey planned to provide a holiday gift to their employees this year? Round your answer to the nearest whole number. b. Suppose the business owners in the sample did as they planned. Compute the p-value for a hypothesis test that can be used to determine if the proportion of business owners providing holiday gifts had decreased from last year. Enter negative value if your answer is negative. Hop - Select your answer Ha P z-value p-value 0.49 Select your answer- 0.49 (to 2 decimals) (to 4 decimals) c. Using a 0.02 level of significance, would you conclude that the proportion of business owners providing gifts decreased? - Select your answer- Ho What is the smallest level of significance for which you could draw such a conclusion? (to 4 decimals)
Transcribed Image Text:Last year, 49% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicates that 37% planned to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 75 business owners. a. How many business owners in the survey planned to provide a holiday gift to their employees this year? Round your answer to the nearest whole number. b. Suppose the business owners in the sample did as they planned. Compute the p-value for a hypothesis test that can be used to determine if the proportion of business owners providing holiday gifts had decreased from last year. Enter negative value if your answer is negative. Hop - Select your answer Ha P z-value p-value 0.49 Select your answer- 0.49 (to 2 decimals) (to 4 decimals) c. Using a 0.02 level of significance, would you conclude that the proportion of business owners providing gifts decreased? - Select your answer- Ho What is the smallest level of significance for which you could draw such a conclusion? (to 4 decimals)
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012). a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. Ho: p-Select your answer - Ha: p-Select your answer- b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)? c. At a = .01, what is your conclusion? - Select your answer -
Transcribed Image Text:Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012). a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. Ho: p-Select your answer - Ha: p-Select your answer- b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)? c. At a = .01, what is your conclusion? - Select your answer -
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