Question

In: Statistics and Probability

Jissica sells real estate. She saw that in a sample of 23 of her homebuyers, 18...

  1. Jissica sells real estate. She saw that in a sample of 23 of her homebuyers, 18 found her through a friend. At α = 0.07 can she reject the promo that 80% of homebuyers find their real estate agent through a friend?

a) H1__________ b) __________ c) __________ d) _______________________________

Solutions

Expert Solution

We frame the null hypothesis

To test the ; we use the Z - Statistic

Where P = Population Propotion = 80% = 0.8

p = Sample Proportion

we know that

Since

Since : So, we Accept at 7% Level of Significant.

Therefore we conclude that

NOTE: To See the Critical Values of Z; we use the Standard Normal area tabulated values which i posted below.

How to see?

If alpha = 7% the confidence interval = 93%

Divide the value 93 with 100. you will get 0.93 and after that divide the value 0.93 with 2; you will get 0.465. Now Search this 0.465 in side the table ( repeating again see inside the table). You will find this at the intersection 6f (1.8, 0,01) which is Zcri value i.e 1.81.

Like this you can find the Zcri for any alpha values.


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