A publisher reports that 52% of their readers own a laptop. A marketing executive wants to test the claim that the percentage is actually different from the reported percentage. A random sample of 300 found that 49% of the readers owned a laptop. Determine the P-value of the test statistic. Round your answer to four decimal places.
It is given that:
A publisher reports that 52% of their readers own a laptop.
Assume the population percentage of readers who own a laptop be p.
Hence, .
It is also given that:
A random sample of 300 found that 49% of the readers owned a laptop.
Hence, the sample size is .
And the sample percentage of readers is .
The formula of the test statistic is:
Substitute the required values to get the value of Z,
As the sample is large, the distribution of sample proportion is normal distribution and hence the p-value can be obtained using normal distribution as:
As the normal distribution is a symmetric distribution and it is two-tailed test, therefore, the p-value is twice the value obtained above. therefore, P-value of the test statistic is .
A publisher reports that 52% of their readers own a laptop. A marketing executive wants to...
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