Question

A newsletter publisher believes that over 47% of their readers own a Rolls Royce. For marketing purposes, a potential advertiser wants to confirm this claim. After performing a test at the 0.02 level of significance, the advertiser failed to reject the null hypothesis. What is the conclusion regarding the publisher's claim?

Answer 1

The advertiser failed to reject the null hypotenuse so this would mean there is not sufficient evidence at the 0.02 level of significance to say that the percentage of people who own a Rolls Royce is higher than 47%