The business college computing center wants to determine the proportion of business students who have personal computers (pc's) at home. if the proportion differs from 25%, then the lab will modify a proposed enlargement of its facilities. suppose a hypothesis test is conducted and the test statistic is 2.4. find the p-value for a two-tailed test of hypothesis.

And we can use the following excel code:

"=2*(1-NORM.DIST(2.4;0;1;TRUE))"

Step-by-step explanation:

1) Data given and notation

n represent the random sample taken

X represent the business students who have personal computers (PC's) at home

estimated proportion of business students who have personal computers (PC's) at home

is the value that we want to test

represent the significance level

z would represent the statistic (variable of interest)

represent the p value (variable of interest)  

2) Concepts and formulas to use  

We need to conduct a hypothesis in order to test the claim that the true proportion is 0.25:  

Null hypothesis:  

Alternative hypothesis:  

When we conduct a proportion test we need to use the z statisitc, and the is given by:  

(1)  

The One-Sample Proportion Test is used to assess whether a population proportion is significantly different from a hypothesized value .

3) Calculate the statistic  

For this case the value of the statistic is given by z=2.4 and that's given.

4) Statistical decision  

It's important to refresh the p value method or p value approach . "This method is about determining "likely" or "unlikely" by determining the probability assuming the null hypothesis were true of observing a more extreme test statistic in the direction of the alternative hypothesis than the one observed". Or in other words is just a method to have an statistical decision to fail to reject or reject the null hypothesis.  

The next step would be calculate the p value for this test.  

Since is a bilateral test the p value would be:  

And we can use the following excel code:

"=2*(1-NORM.DIST(2.4;0;1;TRUE))"

98%

step-by-step explanation:

the correct answer is $7.38

step-by-step explanation: