The Consumer Confidence Survey is a monthly review that measures consumer confidence in

Chapter 0, Problem 37

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The Consumer Confidence Survey is a monthly review that measures consumer confidence in the U.S. economy. It is based on a typical sample of 5,000 U.S. households. Last month 9.1 percent of consumers said conditions were good. In the prior month, only 8.5 percent held they were good. Use the five-step hypothesis-testing method at the .05 level of significance to see whether you can determine there is an increase in the share asserting conditions are good. Find the p-value and explain what it means.

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