A plan for an executive travelers' club has been developed by an airline on the premise that 5% of its current customers would qualify for membership. A random sample of 500 customers yielded 38 who would qualify. Calculate the test statistic and determine the P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.) z = P-value = (b) What is the probability that when the test of part (a) is used, the company's premise will be judged correct when in fact 10% of all current customers qualify. (Round your answer to four decimal places.)
A plan for an executive travelers' club has been developed by an airline on the premise that 5% of its current customers would qualify for membership. A random sample of 500 customers yielded 38 who would qualify. Calculate the test statistic and determine the P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.) z = P-value = (b) What is the probability that when the test of part (a) is used, the company's premise will be judged correct when in fact 10% of all current customers qualify. (Round your answer to four decimal places.)
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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A plan for an executive travelers' club has been developed by an airline on the premise that 5% of its current customers would qualify for membership. A random sample of 500 customers yielded 38 who would qualify.
Calculate the test statistic and determine the P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.)
| z | = | |
| P-value | = |
(b) What is the probability that when the test of part (a) is used, the company's premise will be judged correct when in fact 10% of all current customers qualify. (Round your answer to four decimal places.)
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