Homework Help is Here – Start Your Trial Now!
Math
Statistics
Confidence in banks: A news poll conducted in 2012 asked a random sample of 1217 adults in the United States how much confidence they had in banks and other financial institutions. A total of 160 adults said that they had a great deal of confidence. An economist claims that greater than 11% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both a=0.05 and a 0.10 levels of significance and the critical value method with the table.

Confidence in banks: A news poll conducted in 2012 asked a random sample of 1217 adults in the United States how much confidence they had in banks and other financial institutions. A total of 160 adults said that they had a great deal of confidence. An economist claims that greater than 11% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both a=0.05 and a 0.10 levels of significance and the critical value method with the table.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 11PPS
See similar textbooks
icon
Related questions
Question
100%
Confidence in banks: A news poll conducted in 2012 asked a random sample of 1217 adults in the United States how much confidence they had in banks and other financial institutions. A total of 160 adults said that they had a great deal of confidence. An economist claims that greater than 11% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both a=0.05 and a=0.10 levels of significance and the critical value method with the table. Part 1 of 5 State the appropriate null and alternate hypotheses. Ho: P = .11 H: P> .11 This hypothesis test is a right-tailed ▼ test. Part 2 of 5 Find the critical values. Round the answer to three decimal places. For a- 0.05 , the critical value is 1.645 For a-0.10 , the critical value is 1.282 Part: 2/5 Part 3 of 5 Compute the test statistic. Do not round intermediate calculations. Round the answer to two decimal places.
Transcribed Image Text:Confidence in banks: A news poll conducted in 2012 asked a random sample of 1217 adults in the United States how much confidence they had in banks and other financial institutions. A total of 160 adults said that they had a great deal of confidence. An economist claims that greater than 11% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both a=0.05 and a=0.10 levels of significance and the critical value method with the table. Part 1 of 5 State the appropriate null and alternate hypotheses. Ho: P = .11 H: P> .11 This hypothesis test is a right-tailed ▼ test. Part 2 of 5 Find the critical values. Round the answer to three decimal places. For a- 0.05 , the critical value is 1.645 For a-0.10 , the critical value is 1.282 Part: 2/5 Part 3 of 5 Compute the test statistic. Do not round intermediate calculations. Round the answer to two decimal places.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 6 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Point Estimation, Limit Theorems, Approximations, and Bounds
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
SEE MORE TEXTBOOKS