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In: Statistics and Probability

Historically, the proportion of people who trade in their old car to a car dealer when...

Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 50%. Over the previous 4 months, in a sample of 128 new-car buyers, 54 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what is the test statistic? (please round your answer to 2 decimal places)

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Expert Solution

Solution: Here concept of z-test for single proportion is used.

Please rate the answer. Thank you.

orchestra answered 2 years ago
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