Last year, 41% of business owners gave a holiday gift to their employees. A survey of business owners conducted this year indicates that 32% planned to provide a holiday gift to their employees. Suppose the survey results are based on a sample of 55 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. 18 b. Suppose the business owners in the sample do as they plan. Conduct a hypothesis test that can be used to determine whether the proportion of business owners providing holiday gifts had decreased from last year. State the hypotheses. Ho : p = v 0.41 H : p < Compute the test statistic and p-value. 0.41 z-value -1.417 (to 2 decimals) p-value (to 4 decimals) c. Using a 0.01 level of significance, would you conclude that the proportion of business owners providing gifts decreased? Do not reject Ho. We cannot v conclude that the proportion of business owners providing gifts has decreased from last year to this year. What is the smallest level of significance for which you could draw such a conclusion? (to 4 decimals)

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.