Answer:
Now we can find the p value using the alternative hypothesis and with the following probability:
We see that the p value is higher than the significance level of 0.01 so then we FAIL to reject the null hypothesis and there is NOT enough evidence to conclude that the return rate is less than 20% at 1% of significance
Explanation:
Information given
n=6967 represent the random sample selected
X=1331 represent the surveys returned
estimated proportion of return rate
tex]p_o=0.2[/tex] is the value to verify
represent the significance level
z would represent the statistic
represent the p value
System of hypothesis
We test the claim that the return rate is less than 20%, then the system of hypothesis are:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
Replacing the info given we got:
Now we can find the p value using the alternative hypothesis and with the following probability:
We see that the p value is higher than the significance level of 0.01 so then we FAIL to reject the null hypothesis and there is NOT enough evidence to conclude that the return rate is less than 20% at 1% of significance