Question

(1 point) A car dealership claims to give customers a median trade-in offer of at least 3700 dollars. A random sample of 115 transactions revealed that the trade-in offer for 48 automobiles was less than 3700 dollars and the trade-in offer for 67 automobiles was more than 3700 dollars. At the 0.005 significance level, test the dealership's claim. The test statistic is The critical value is The conclusion is A. There is not sufficient evidence to reject the claim of the car dealership. B. There is sufficient evidence to reject the claim of the car dealership.

Answer 1

= null Hypothesis: Ho: p alternate Hypothesis: Ha: P 0.500 0.500 for 0.005 level with right tailed test, critical z= Decision rule: reject Ho if test statistic z > 2.576 2.576 sample success x = sample size n = std error se = (p'(1-pin) = sample proportion p = xin= 67 115 0.0466 0.5826 test stat z =(-p)/(p(1-P)/n)= 1.772

from above

the test statistic is z =1.772

the crtiical value=2.576

option A: there is not sufficient evidence ,,,,,,,,,,,,,