Administrators at the stock exchange claim that only 10% of all companies report incorrect profits, but you suspect that the proportion is much higher. Use the results of the audit of 250 companies with results that 45 reported incorrect profits to answer the following. a. State the null and alternative hypotheses. b. Perform a significance test. Report the test statistic value and the p-value. c. State your conclusion regarding the results of your hypothesis test in context of the problem.
Administrators at the stock exchange claim that only 10% of all companies report incorrect profits, but you suspect that the proportion is much higher. Use the results of the audit of 250 companies with results that 45 reported incorrect profits to answer the following. a. State the null and alternative hypotheses. b. Perform a significance test. Report the test statistic value and the p-value. c. State your conclusion regarding the results of your hypothesis test in context of the problem.
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...
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Administrators at the stock exchange claim that only 10% of all companies report incorrect profits, but you suspect that the proportion is much higher. Use the results of the audit of 250 companies with results that 45 reported incorrect profits to answer the following.
a. State the null and alternative hypotheses.
b. Perform a significance test. Report the test statistic value and the p-value.
c. State your conclusion regarding the results of your hypothesis test in context of the problem.
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