Proportion Problem. A plan for an executive traveler's club has been developed by an airline on...

Proportion Problem. A plan for an executive traveler's club has been developed by an airline on the premise that at least 5% of its current customers would qualify for membership. A random sample of 500 customers yielded 40 who would qualify.

Using this proportion data, test at alpha = .01 the null hypothesis that the company's premise is correct, against the alternative that it is not correct.

What is the standard error for this hypothesis test?
P-value of the test
What is the test statistic?
What is the p-value of the test statistic?

Expert Solution

Solution:

orchestra answered 2 years ago

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