question archive A pizza chain is considering opening a new store in an area that currently does not have any such stores
A pizza chain is considering opening a new store in an area that currently does not have any such stores
Subject:StatisticsPrice:2.87 Bought7
A pizza chain is considering opening a new store in an area that currently does not have any such stores. The chain will open if there is evidence that more that more than 5,000 of the 20,000 households in the area have a favorable view of its brain. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 percent have a favorable view. The null and alternative hypotheses tested are: H0: p<= 0.25 HA: p> 0.25 The value of the calculated test statistic is 2.80. What is the p-value associated with the test statistic? Round your answer to 4 decimal places
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Answer:
Given that, null and alternative hypotheses are,
H0: p <= 0.25
HA: p > 0.25
The value of test statistic is, z = 2.80
since it is right-tailed test,
P-value = P(Z > 2.80) = 1 - P(Z < 2.80) = 1 - 0.9974 = 0.0026
Hence, the p-value is 0.0026
