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Z test for proportions

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An insurance company states that 90% of its claims are settled within 5 weeks. A consumer group selected a random sample of 100 of the company's claims and found 75 of the claims were settled within 5 weeks. Is there enough evidence to support the consumer group's claim that fewer than 90% of the claims were settled within 5 weeks? Test using the traditional approach with a = 0.05.

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Solution Summary

Step by step method for testing the hypothesis under traditional 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.

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An insurance company states that 90% of its claims are settled within 5 weeks. A consumer group selected a random sample of 100 of the company's claims and found 75 of the claims were settled within 5 weeks. Is there enough evidence to support the consumer group's claim that fewer ...

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