Math  /  Data & Statistics

QuestionHomework 0\boldsymbol{0} 5: 9(1,3,4,5)14(1,2)9(1,3,4,5) 14(1,2) Question 11 of 30 (1 point) I Question Attempt: 1 of 3 Jonath
Confidence in banks: A poll conducted asked a random sample of 1358 adults in the United States how much confidence they had in banks and other financial institutions. A total of 149 adults sald that they had a great deal of confidence. An economist claims that less than 13\% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both α=0.10\alpha=0.10 and α=0.01\alpha=0.01 levels of significance and the PP-value method with the TI-84 Plus calculator.
Part 1 of 5 (a) State the appropriate null and alternate hypotheses. H0:0.10H1:0.01\begin{array}{l} H_{0}: 0.10 \\ H_{1}: 0.01 \end{array}
This hypothesis test is a right-tailed \boldsymbol{\nabla} test.
Correct Answer: H0:p=0.13H1:p<0.13\begin{array}{l} H_{0}: p=0.13 \\ H_{1}: p<0.13 \end{array}
This hypothesis test is a left-tailed test.
Part: 1/51 / 5
Part 2 of 5 (b) Compute the value of the test statistic. Round the answer to at least two decimal places. z=z=\square Skip Part Check Save For Later Submit Assign - 2024 McGraw Hill LLC. All Rights Reserved. Terms of Use I Pivacy Center I Ace

Studdy Solution
Compare the P-value with α=0.10\alpha = 0.10 and α=0.01\alpha = 0.01:
- If the P-value < α\alpha, reject H0H_0. - If the P-value > α\alpha, do not reject H0H_0.
Assuming the P-value is less than both α=0.10\alpha = 0.10 and α=0.01\alpha = 0.01, we reject H0H_0 and conclude that the economist's claim is true.
The test statistic is:
z2.11 z \approx -2.11

View Full Solution - Free
Was this helpful?

Studdy solves anything!

banner

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

ParentsInfluencer programContactPolicyTerms
TwitterInstagramFacebookTikTokDiscord