Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 52%. Over the previous 4 months, in a sample of 115 new-car buyers, 59 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what is the test statistic? (please round your answer to 2 decimal places)
Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 52%. Over the previous 4 months, in a sample of 115 new-car buyers, 59 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what is the test statistic? (please round your answer to 2 decimal places)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
Related questions
Question
Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 52%. Over the previous 4 months, in a sample of 115 new-car buyers, 59 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what is the test statistic? (please round your answer to 2 decimal places)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill