Testing Claim about a Proportion. Apply p-value method to evaluate the claim that percent of new small businesses


Testing Claim about a Proportion. Apply p-value method to evaluate the claim that percent of new small businesses

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Testing Claim about a Proportion.

Apply p-value method to evaluate the claim that percent of new small businesses (population proportion)

survived 5 years is less than 40%.

H0 - population proportion p = 0.4

H1 - population proportion p < 0.4

Sample of N=80 new small businesses were checked after 5 years and found that 30 of them survived.

Calculate sample proportion ps

Calculate z-value for the test statistics is case of population proportion:

z =

ps is a sample proportion,

p is a population proportion, taken from Ho,

N - sample size.

b) Use attached Table A-2 for Normal Distribution to find p-value.



c) At the significance level 0.05 make decision: reject or do not reject H0.

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