The new marketing manager claims that the rate of returned items fell below 5% during his term. Since only one of the 50 products sold in the last month has been returned, test the accuracy of this claim at the 5% significance level.

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
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The new marketing manager claims that the rate of returned items fell below 5% during his term. Since only one of the 50 products sold in the last month has been returned, test the accuracy of this claim at the 5% significance level.

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