A survey of n = 703 randomly selected workers showed that 61% of those respondents found their jobs through networking.
(1) Please state the corresponding null and alternative hypotheses to determine if most (more than 50%) workers get their jobs though networking;
(2) Please find the value of the test statistic for the claim that most (more than 50%) workers get their jobs though networking.
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.