Consider the following hypothesis test: 1. A manufacturer takes a sample of 125 consumers. 2. They suspect that over 75% of consumers will buy their brand of product. 3. The survey results are that 92 out of 125 of the consumers indicated they will buy the product. What is the value of?

Question

Business

Dylan Murphy

12 May, 05:49

Consider the following hypothesis test: 1. A manufacturer takes a sample of 125 consumers. 2. They suspect that over 75% of consumers will buy their brand of product. 3. The survey results are that 92 out of 125 of the consumers indicated they will buy the product. What is the value of?

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Answers (1)

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Halle Dillon · Answer 1

C) 0.736

Explanation:

In statistics, p is the probability of obtaining a positive result in a test. P should prove the validity of a null hypothesis. When larger populations are used, p should follow a standard distribution, but this is not the case.

To calculate p in this survey, we must divide the number of positive responses by the total number of responses = 92 / 125 = 0.736