MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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After a financial analysis, the general manager of a large company decided that if at least 8% of potential buyers of a new product purchase that product, the company will show a profit. In a preliminary survey of 500 potential buyers, 56 people say that they will buy the product. Is there sufficient evidence at the 5% significance level that the product will produce a profit?
- IDENTIFY TEST STATISTIC.
- POPULATION (ONE, TWO OR MULTIPLE)
- STATE NULL AND ALTERNATE HYPOTHESIS.
- EXPLAIN THE GRAPH AND WHETHER IT IS (LEFT, RIGHT TAIL OR BOTH).
- WHAT TYPE OF DISTRIBUTION.
- LEFT CRITICAL VALUE AND RIGHT CRITICAL VALUE (IF APPLICABLE)
- CALCULATED TYPE + VALUE
- P-VALUE (IF APPLICABLE)
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