Hypothesis Testing using P value Format
(AARP) reports that 60% of retired persons under the age of 65 would be willing to return to work on a full time basis if a suitable job were available. A sample of 700 retired persons under the age of 65 revealed 520 would return to work.
Can we conclude that more than 60% of retired people in the age group would return to work? I need to do a Hypothesis Testing using only P value format (Explain in everyday words but also have the formal steps show with results) on this problem.
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Problem: (AARP) reports that 60% of retired persons under the age of 65 would be willing to return to work on a full time basis if a suitable job were available. A sample of 700 retired persons under the age of 65 revealed 520 would return to work. Can we conclude that more than 60% of retired people in the age group would return to work? I ...
Solution Summary
A Complete, Neat and Step-by-step Solution regarding hypothesis testing using p-value format is provided in the attached file. It helps answer whether a certain proportion of people would return to work.