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Question 7. Question : An electronics retailer believes that, at most, 40% of their cell phone inventory was sold during November. The retailer surveyed 80 dealers and found that 38% of the inventory was sold. Since 38% is less than 40%, is this difference of 2 percentage points sampling error or a significant difference? Test at the 0.05 level. The computed z = -0.37. Points Received: 1 of 1Comments:
Question 8. Question : To test the hypothesis that 55% of those families who plan to purchase a vacation residence in Florida want a condominium, the null hypothesis is π = 0.55 and the alternate is π ≠ .55. A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want a condominium. What decision should be made regarding the null hypothesis using the 0.01 level of significance? Points Received: 1 of 1Comments: Question 9. Question : If the critical zvalue for a hypothesis test equals 2.45, what value of the test statistic would provide the least chance of making a Type I error? Points Received: 1 of 1Comments: