Companies that recently developed new products were asked to rate which activities are most difficult to...

Companies that recently developed new products were asked to rate which activities are most difficult to accomplish with new products. Options included such activities as assessing market potential, market testing, finalizing the design, developing a business plan, and the like.

A researcher wants to conduct a similar study to compare the results between two industries: the computer hardware industry and the banking industry. He takes a random sample of 64 computer firms and 89 banks. The researcher asks whether “market testing” is the most difficult activity to accomplish in developing a new product. Forty-seven percent (47%) of the sampled computer companies and fifty-four percent (54%) of the banks respond that it is the most difficult activity. Use a significance level of .20 to test whether there is a difference in the responses to this question from these two industries.

H₀: Level of significance (α): α =

H_A: Type test: two-tailed left tail right tail

Specify the random variable and distribution to be used in this hypothesis test.

Calculate the p-value Draw a graph and show the p-value

Show your work and any calculator functions used.

Compare the p-value with α Decide to Reject or Fail to reject the null hypothesis

Conclusion. State your results in non-technical terms.

Expert Solution

Since p-value>0.2 so we fail to reject null hypothesis.

Conclusion: There is an insignificant difference in the responses to this question from these two industries.

milcah answered 3 months ago

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