Test at the 0.01 level the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is ? = 0.55 and the alternate is ? ? 0.55. 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?
Do not reject it
Cannot accept nor reject it based on the information given
None of the above© BrainMass Inc. brainmass.com June 3, 2020, 6:56 pm ad1c9bdddf
the estimated ratio is p = 228/400 = 0.57
n = 400
SE = SQRT(p*(1-p)/n)= ...
The techniques in business economics statistics is examined.