# Questons 40 to 43 are based on the following

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Questons 40 to 43 are based on the following informaton:The government is interested in determining the percentage of manufacturing frms that planto “fght infaton” by following certain voluntary wage-price guidelines. They believe that thepercentage is less than 80%. To confrm their beliefs the government takes a random sampleof 100 manufacturing frms. Seventy-seven (77) say that they plan to follow the guidelines.Using this sample the government does a hypothesis test using a 5% level of signifcance.Queston 40Which of the following pairs of hypotheses is used for the hypothesis test?a)H0:μ=0.8vs H1:μ<0.8b)H0:p=0.8vs H1:p≠0.8c)H0:p<0.8vs H1:p=0.8d)H0:p=0.8vs H1:p<0.8e)H0:p=0.8vs H1:p<77lOMoARcPSD|24070960
Queston 41What is the value of the test statstc?
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Queston 42Suppose the government would like to estmate the populaton proporton of frms that willfollow the guidelines with 95% confdence and an error of no more than 0.05.Is a sample ofsize 100 large enough to atain this level of accuracy? If not, what is the minimum sample sizeneeded?
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Queston 43The 90% confdence interval for the populaton proporton of frms that will follow theguidelines is:( 0.70 ; 0.84 ).From this we can say
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