4. Hypothesis tests about a population proportion A firm’s corporate strategy is driven largely by its top management team. One method of gauging the influence of marketing on corporate strategy is to measure the proportion of firms with a chief marketing officer on their top management team. Over the 5-year period from 2000 to 2004, 42% of firms had a chief marketing officer on their top management team. [Source: Pravin Nath and Vijay Mahajan, “Chief Marketing Officers: A Study of Their Presence in Firms’ Top Management Teams,” Journal of Marketing, 70 (2007).] To test the hypothesis that the influence of marketing on corporate strategy today is different from its influence in the 2000–2004 period, a random sample of 53 U.S. firms is selected. Of these, 28 firms have a chief marketing officer on their top management team. The test is conducted at a significance level of α = 0.01. Let p be the true proportion of firms with a chief marketing officer currently on their top management team. To conduct the hypothesis test, the null and alternative hypotheses are formulated as: H₀: p̄ p̄ = 0.42'; Haa: p̄ p̄ ≠ 0.42 H₀: p ≥ 0.42; Haa: p < 0.42 H₀: p = 0.42; Haa: p ≠ 0.42 H₀: p ≤ 0.42; Haa: p > 0.42 If the null hypothesis is true, the sampling distribution of the sample proportion p̄ p̄ can be approximated by a _____ ( ans options: t distribution with 52 degrees of freedome, binomial dist., normal dist. t distribution with 53 degrees of freedom) with a mean _______ and a standard deviation of _______ . The test statistic is _______ (t=.... or z=....) . Use the Distributions tool to develop the rejection region. According to the critical value approach (with α = 0.01), when do you reject the null hypothesis? Reject H₀ if z ≤ –2.576 or if z ≥ 2.576 Reject H₀ if t ≤ –2.674 or if t ≥ 2.674 Reject H₀ if z ≤ –2.576 Reject H₀ if z ≤ –2.326 or if z ≥ 2.326 Use the provided Distributions tool to determine the p-value. The p-value is _____ . Using the critical value approach, the null hypothesis is ______ , because________ . Using the p-value approach, the null hypothesis is_______ , because ____ . Therefore, you _____ conclude that the influence of marketing on corporate strategy today is different from its influence in the 2000–2004 period.
4. Hypothesis tests about a population proportion
A firm’s corporate strategy is driven largely by its top management team. One method of gauging the influence of marketing on corporate strategy is to measure the proportion of firms with a chief marketing officer on their top management team. Over the 5-year period from 2000 to 2004, 42% of firms had a chief marketing officer on their top management team. [Source: Pravin Nath and Vijay Mahajan, “Chief Marketing Officers: A Study of Their Presence in Firms’ Top Management Teams,” Journal of Marketing, 70 (2007).]
To test the hypothesis that the influence of marketing on corporate strategy today is different from its influence in the 2000–2004 period, a random sample of 53 U.S. firms is selected. Of these, 28 firms have a chief marketing officer on their top management team. The test is conducted at a significance level of α = 0.01.
Let p be the true proportion of firms with a chief marketing officer currently on their top management team. To conduct the hypothesis test, the null and alternative hypotheses are formulated as:
H₀: p̄ p̄ = 0.42'; Haa: p̄ p̄ ≠ 0.42
H₀: p ≥ 0.42; Haa: p < 0.42
H₀: p = 0.42; Haa: p ≠ 0.42
H₀: p ≤ 0.42; Haa: p > 0.42
If the null hypothesis is true, the sampling distribution of the sample proportion p̄ p̄ can be approximated by a _____ ( ans options: t distribution with 52 degrees of freedome, binomial dist., normal dist. t distribution with 53 degrees of freedom) with a mean _______ and a standard deviation of _______ .
The test statistic is _______ (t=.... or z=....) .
Use the Distributions tool to develop the rejection region. According to the critical value approach (with α = 0.01), when do you reject the null hypothesis?
Reject H₀ if z ≤ –2.576 or if z ≥ 2.576
Reject H₀ if t ≤ –2.674 or if t ≥ 2.674
Reject H₀ if z ≤ –2.576
Reject H₀ if z ≤ –2.326 or if z ≥ 2.326
Use the provided Distributions tool to determine the p-value. The p-value is _____ .
Using the critical value approach, the null hypothesis is ______ , because________ . Using the p-value approach, the null hypothesis is_______ , because ____ . Therefore, you _____ conclude that the influence of marketing on corporate strategy today is different from its influence in the 2000–2004 period.
The question is about hypo. testing
Given :
Popl. prop. of firms had chief marketing officer on their top management team ( p ) = 0.42
Randomly selected no. of firms ( n ) = 53
No. of firms who had chief marketing officer on their top management team ( x ) = 28
Level of signif. ( ) = 0.01
To find :
To test the hypo. that the influence of marketing on corporate strategy today is diff. from its influence in the 2000–2004 period
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 4 images
you did not answer this
by Bartleby Expert
