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According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 1% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved p-value Critical value = We can conclude that the percentage of all American adults who currently hold this opinion 5%. higher than

According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 1% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved p-value Critical value = We can conclude that the percentage of all American adults who currently hold this opinion 5%. higher than

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.2: Introduction To Probability
Problem 52E
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According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 1% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved p-value Critical value = We can conclude that the percentage of all American adults who currently hold this opinion 5%. higher than
Transcribed Image Text:According to a New York Times/CBS News poll conducted during June 24-28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1770 American adults, 60% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 1% significance level, and use both the p-value and the critical-value approaches. Round your answers for the observed value of z and the critical value of z to two decimal places, and the p-value to four decimal places. Zobserved p-value Critical value = We can conclude that the percentage of all American adults who currently hold this opinion 5%. higher than
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