Black Friday is a colloquial term for the Friday following Thanksgiving Day in the United States. Many stores offer highly promoted sales on Black Friday and open very early, or even on Thanksgiving Day. Black Friday has routinely been the busiest shopping day of the year in the United States since at least 2005. According to a finder.com survey from September 2021, the site predicts that this year 69% of Americans aged 18-24 are going to shop the sales on Black Friday. Data were collected from a random sample of Americans aged 18-24. 0 means "will not shop on Black Friday and 1 means "will shop on Black Friday". Using sigma = 0.05, is there sufficient evidence to conclude that finder.com is incorrect and that the proportion of Americans aged 18-24 will be different than 69%? Conduct a full hypothesis test by following the steps below. g) Calculate and state the p-value associated with your hypothesis test using the standard Normal table. h) State whether you reject or do not reject the null hypothesis and the reason for your decision in one sentence. i) Based on your above decision, state your conclusion addressing the research question posed in this investigation, in context. Use one or two complete sentences.
Black Friday is a colloquial term for the Friday following Thanksgiving Day in the United States. Many stores offer highly promoted sales on Black Friday and open very early, or even on Thanksgiving Day. Black Friday has routinely been the busiest shopping day of the year in the United States since at least 2005. According to a finder.com survey from September 2021, the site predicts that this year 69% of Americans aged 18-24 are going to shop the sales on Black Friday.
Data were collected from a random sample of Americans aged 18-24. 0 means "will not shop on Black Friday and 1 means "will shop on Black Friday".
Using sigma = 0.05, is there sufficient evidence to conclude that finder.com is incorrect and that the proportion of Americans aged 18-24 will be different than 69%? Conduct a full hypothesis test by following the steps below.
g) Calculate and state the p-value associated with your hypothesis test using the standard Normal table.
h) State whether you reject or do not reject the null hypothesis and the reason for your decision in one sentence.
i) Based on your above decision, state your conclusion addressing the research question posed in this investigation, in context. Use one or two complete sentences.
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