Mathematics, 24.12.2019 22:31 emilydis2594

Gwe found that 15 customers from a random sample of 60 would be willing to buy a software upgrade that costs 100. if the upgrade is to be profitable you will need to sell it to more than 20% of your customers. do the sample data give good evidence that more than 20% are willing to buy

Answers: 3

Show answers

Answers

Answer from: audrey68

$z=\frac{0.25 -0.2}{\sqrt{\frac{0.2(1-0.2)}{100}}}=1.25$

p_v =P(Z1.25)=0.106

So the p value obtained was a very high value and using the significance level assumed $\alpha=0.05$ we see that $p_v\alpha$ so we can conclude that we have enough evidence to FAIL to reject the null hypothesis, and then we don't have enough evidence to conclude that the true proportion is higher than 0.2 .

Step-by-step explanation:

1) Data given and notation

n=60 represent the random sample taken

X=15 represent the customers who would be willing to buy a software upgrade that costs 100

$\hat p=\frac{15}{60}=0.25$ estimated proportion of customers who would be willing to buy a software upgrade that costs 100

p_o=0.2 is the value that we want to test

$\alpha$ represent the significance level

z would represent the statistic (variable of interest)

p_v represent the p value (variable of interest)

2) Concepts and formulas to use

We need to conduct a hypothesis in order to test the claim that the proportions is higher than 20%:

Null hypothesis: $p\leq 0.2$

Alternative hypothesis: p 0.2

When we conduct a proportion test we need to use the z statistic, and the is given by:

$z=\frac{\hat p -p_o}{\sqrt{\frac{p_o (1-p_o)}{n}}}$ (1)

The One-Sample Proportion Test is used to assess whether a population proportion $\hat p$ is significantly different from a hypothesized value p_o .

3) Calculate the statistic

Since we have all the info requires we can replace in formula (1) like this:

$z=\frac{0.25 -0.2}{\sqrt{\frac{0.2(1-0.2)}{100}}}=1.25$

4) Statistical decision

It's important to refresh the p value method or p value approach . "This method is about determining "likely" or "unlikely" by determining the probability assuming the null hypothesis were true of observing a more extreme test statistic in the direction of the alternative hypothesis than the one observed". Or in other words is just a method to have an statistical decision to fail to reject or reject the null hypothesis.

The next step would be calculate the p value for this test.

Since is a right tailed test the p value would be:

p_v =P(Z1.25)=0.106

Answer from: Quest

it costs $20 to interview each person for a survey. find the cost to obtain a +- 3% margin of error.

step-by-step explanation:

copy and paste, put it in google

Answer from: Quest

step-by-step explanation:

7+3=10

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 14:50, kaylonjohnwell23

Statement: if two points are given, then exactly one line can be drawn through those two points. which geometry term does the statement represent? defined term postulate theorem undefined term

Answers: 1

continue

Mathematics, 21.06.2019 15:00, gustavoroggero39

The lee family bought their home for $220,000 this year. the equation =220,000(1.038) v = 220 , 000 ( 1 . 038 ) x can be used to find the value, v, of their home after x years. which will be the value of the lee family's home in 5 years?

Answers: 1

continue

Mathematics, 21.06.2019 15:30, hejdiidid9311

Will used 20 colored tiles to make a design in art class. 5/20 of his tiles were red. what is an equivalent fraction for the red tiles?

Answers: 1

continue

Mathematics, 21.06.2019 16:00, RyannLambertt9722

On saturday morning, calls arrive at ticketmaster at a rate of 108 calls per hour. what is the probability of fewer than three calls in a randomly chosen minute?

Answers: 1

continue

You know the right answer?

Gwe found that 15 customers from a random sample of 60 would be willing to buy a software upgrade th...