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    Hypothesis testing :Proportion

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    Each month the National Association of Purchasing Managers publishes the NAPM index.
    One of the questions asked on the survey to purchasing agents is: Do you think the economy is expanding? Last month, of the 300 responses 160 answered yes to the question. This month, 170 of the 290 responses indicated they felt the economy was expanding. At the .05 significance level, can we conclude that a larger proportion of the agents believe the economy is expanding this month?

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    Solution Summary

    A step-by-step method for testing the hypothesis under 5 step approach is discussed here. Excel template for each problem is also included. This template can be used to obtain the answers of similar problems.