Solve using excel 12.16 Companies that had recently developed new products were asked to rate which...

Solve using excel

12.16 Companies that had 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, and developing a business plan. Researchers want to conduct a similar study to compare the results between two industries: the computer hardware industry and the banking industry. They take a random sample of 56 computer firms and 89 banks. They ask whether market testing is the most difficult activity to accomplish in developing a new product. Forty-eight percent of the sampled computer companies and 56% of the sampled banks respond that it is the most difficult activity. Use a level of significance of 0.20 to test whether there is a significant difference in the responses to the question from these two industries.

observed t = ____

the decision is to ________

Expert Solution

12.16

Given that,
sample one, x1 =26.88, n1 =56, p1= x1/n1=0.48
sample two, x2 =49.84, n2 =89, p2= x2/n2=0.56
finding a p^ value for proportion p^=(x1 + x2 ) / (n1+n2)
p^=0.5291
q^ Value For Proportion= 1-p^=0.4709
null, Ho: p1 = p2
alternate, H1: p1 != p2
level of significance, α = 0.2
from standard normal table, two tailed z α/2 =1.282
since our test is two-tailed
reject Ho, if zo < -1.282 OR if zo > 1.282
we use test statistic (z) = (p1-p2)/√(p^q^(1/n1+1/n2))
zo =(0.48-0.56)/sqrt((0.529*0.4709(1/56+1/89))
zo =-0.9396
| zo | =0.9396
critical value
the value of |z α| at los 0.2% is 1.282
we got |zo| =0.94 & | z α | =1.282
make decision
hence value of |zo | < | z α | and here we do not reject Ho
p-value: two tailed ( double the one tail ) - Ha : ( p != -0.9396 ) = 0.3474
hence value of p0.2 < 0.3474,here we do not reject Ho
ANSWERS
---------------
null, Ho: p1 = p2
alternate, H1: p1 != p2
test statistic: -0.9396
critical value: -1.282 , 1.282
decision: do not reject Ho
p-value: 0.3474
we do not have enough evidence to support the claim that difference in the responses to the question from these two industries

orchestra answered 2 years ago

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