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Hyopthesis testing

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This year 80 dealers were selected at random and telephoned regarding the new receiver. It was learned the 38% of the receivers had been sold. Since 38% is less that 40%, management wants to know if this means that immediate production cutbacks are needed or can this difference of 2 percentage points be attributed to sampling error? That is, does the true mean = 40% even though the sample mean is less? A test was conducted at the 0.05 significance level. The computed test statistic is Z = -0.37. What do you recommend? (Hint This may be easier than it appears. Look at what is already given).

a. Cut back production
b. Do not cut back production
c. Cannot be determined based on the information given
d. None of the above

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Solution Summary

The solution determines hypothesis testing based on immediate production cutbacks.

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