Final answer:
Using a significance level of 0.02, we calculate the test statistic and compare it to the critical value. Since the test statistic is greater than the critical value, we reject the null hypothesis and conclude that there is sufficient evidence to support the company's claim.
Step-by-step explanation:
To determine whether there is sufficient evidence to support the company's claim, we need to evaluate whether the sample proportion of 64% is significantly different from the claimed proportion of above 61%. We can set up the null and alternative hypotheses as follows:
Null hypothesis (H-0): The proportion of chips that do not fail in the first 1000 hours is 61% or less.
Alternative hypothesis (Ha): The proportion of chips that do not fail in the first 1000 hours is greater than 61%.
To test these hypotheses, we can use a one-sample proportion test. We calculate the test statistic using the formula:
Z = (p - p) / sqrt((p * (1 - p)) / n),
where p is the sample proportion, p is the claimed proportion, and n is the sample size. In this case, p = 0.64, p = 0.61, and n = 1600.
Using a significance level of 0.02, we can find the critical value from the standard normal distribution table or using statistical software. For a one-sided test at a 0.02 level of significance, the critical value is approximately 2.055.
Next, we calculate the test statistic:
Z = (0.64 - 0.61) / sqrt((0.61 * (1 - 0.61)) / 1600) ≈ 2.18
Since the test statistic (2.18) is greater than the critical value (2.055), we reject the null hypothesis. Therefore, there is sufficient evidence at the 0.02 level to support the company's claim that above 61% of the chips do not fail in the first 1000 hours of their use.