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Test of hypothesis for proportions

An automobile manufacturer stated that it would be willing ot mass produce electrically powered cares if more than 30% of potential buyers indicate they would purchase the newly designed electric cars. In a sample of 500 potential buyers, 160 indicated they would buy such a product. Should the manufacturer produce the new electrically powered cars? Let (alpha, a =0.05. (may use traditional or p-value method)

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An automobile manufacturer stated that it would be willing ot mass produce electrically powered cares if more than 30% of potential buyers indicate they would purchase the newly designed electric cars. In a sample of 500 potential buyers, 160 indicated they would buy such a product. Should the manufacturer produce the new electrically powered cars? Let (symbol that looks like "a")=0.05? (may use traditional or p-value method)

Data
Hypothesized proportion= 30%
Sample proportion= 32% =160/500
Sample size= 500
Significance level= 0.05
...

Solution Summary

Tests the hypothesis that the proportion of potential buyers who would purchase the newly designed electric cars is greater than 30%.

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