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1. A salesperson claims that more than 40% of the people that come into the store make a purchase. To test this claim, the store manager selected a sample of 100 people in the store and found that 47 made a purchase. State the p-value for the test accurate to 4 decimal places.
2. A certain lottery claims that at least 10% of its tickets win some prize. A sample of 50 tickets had 3 winners. At the .10 level, test the claim. Do we reject or fail to reject the claim?
3. A manufacturer of batteries would like to insure that their defective rate is not higher than 5%. In order to be sure that their batteries meet this quality control standard, the supervisor randomly samples 100 batteries and finds that 8 are defective. Is there significant statistical evidence that the manufacturer is not meeting their quality control standards?? Find the p-value correct to 4 decimal places.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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