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Chapter 9: Q 52. (page 583)

We want to be rich In a recent year, 73%of first-year college students responding to a national survey identified “being very well-off financially” as an important personal goal. A state university finds that 132of an SRS of 200of its first-year students say that this goal is important. Is there convincing evidence at the α=0.05significance level that the proportion of all first-year students at this university who think being very well-off is important differs from the national value of 73%?

Short Answer

Expert verified

There is sufficient evidence present to show that students of the view that well off is different from national value.

Step by step solution

01

Given Information

It is given that Hypothesized proportionpo=73%=0.73

(p^)=132200=0.66

(α)=0.05

02

Calculation and Explanation

Null hypothesis: H0:p0=0.73

Alternative hypothesis: Ha:p0≠0.73

Output of MINTAB is:

Here, Pvalue<α, null hypothesis is rejected.

Hence, sufficient evidence is present to conclude at 5%level of significance that well off is different from national value.

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