Business, 25.12.2019 06:31 nina7163

Astudent believes that less than 50% of students at his college receive financial aid. a random sample of 120 students was taken. sixty-five percent of the students in the sample receive financial aid. test the hypothesis at the 2% level of significance. what are the p-value and conclusion? a. 999; do not reject h0 b. 02; reject h0

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Answer from: Echo009

P-value is greater than the significance level, we fail to reject null hypothesis.

Explanation:

Here,

Sample size = n = 120

Sample proportion = p = 0.6500

Population Proportion = $P_{0}$ = 0.5

Level of significance = α = 0.02

Step 1:

$H_{0}$ : p = 0.5

$H_{1}$ : p < 0.5 (Left tailed test)

Step 2:

The critical vale is = 2.0537

Step 3:

The test statistic is,

z = $\frac{p - p_{0} }{\sqrt{\frac{p_{0} (1-p_{0}) }{n} } }$

Step 5:

Conclusion using critical value: Since the test statistic value is greater than the critical value, we fail to reject null hypothesis.

Step 6:

Conclusion using P-value: Since the P-value is greater than the significance level, we fail to reject the null hypothesis.

Answer from: Quest

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Answer from: Quest

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Astudent believes that less than 50% of students at his college receive financial aid. a random samp...