The president of Amalgamated Retailers International, Sam Peterson, has asked for your assistance in studying the...

70.2K

Verified Solution

Question

Basic Math

The president of Amalgamated Retailers International, SamPeterson, has asked for your assistance in studying the marketpenetration for the company’s new cell phone. You are asked todetermine if the market share is equal to the company’s claim of35%. You obtain a random sample of potential customers from thearea. The sample indicates that 258 out of a total sample of 800indicate they will purchase from Amalgamated
[a] Using a probability of error , test the hypothesis that themarket share equals the company’s claim of 35% versus thehypothesis that the market share is not equal to the company’sclaim.
[b] Using a probability of error , test the hypothesis that themarket share equals the company’s claim of 35% versus thehypothesis that the market share is less than the company’sclaim.
Please Include:
The problem statement
Assumptions
The null and alternate hypothesis statements
The significance level
The test statistic (as an equation)
Decision rules
The calculated value of the test statistic
The p-value
Interpret the results of the test.

Answer & Explanation Solved by verified expert

4.0 Ratings (511 Votes)

n 800 x 258 p xn 03225 significance level 005 Assumption The data are a simple random sample from the population of interest The population is at least 10 times as large as the sample np10 and n1p10 where n is See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member