×
Log in to StudySoup
Get Full Access to Statistics For Business And Economics - 12 Edition - Chapter 7 - Problem 120se
Join StudySoup for FREE
Get Full Access to Statistics For Business And Economics - 12 Edition - Chapter 7 - Problem 120se

Already have an account? Login here
×
Reset your password

“Made in the USA” survey. Refer to the Journal of Global

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 120SE Chapter 7

Statistics for Business and Economics | 12th Edition

  • Textbook Solutions
  • 2901 Step-by-step solutions solved by professors and subject experts
  • Get 24/7 help from StudySoup virtual teaching assistants
Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

4 5 1 331 Reviews
24
1
Problem 120SE

Problem 120SE

“Made in the USA” survey. Refer to the Journal of Global Business (Spring 2002) study of what “Made in the USA” means to consumers, Exercise 2.152 (p. 116). Recall that 64 of 106 randomly selected shoppers believed “Made in the USA” means 100% of labor and materials are from the United States. Let p represent the true proportion of consumers who believe “Made in the USA” means 100% of labor and materials are from the United States.

a. Calculate a point estimate for p.

b. A claim is made that p = .70. Set up the null and alternative hypotheses to test this claim.

c. Calculate the test statistic for the test, part b.

d. Find the rejection region for the test if  = .01.

e. Use the results, parts c and d, to make the appropriate conclusion.

Step-by-Step Solution:

Solution:

Step 1 of 6:

It is given that out of 106 randomly selected shoppers 64 shoppers believed that made in the USA means 100% of the labor and materials are from United States.

Also, it is given that p denotes the proportion of shoppers who believed that made in the USA means 100% of the labor and the material are from the United States.

Using this data we have to find the required values.


Step 2 of 6

Chapter 7, Problem 120SE is Solved
Step 3 of 6

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

Other solutions

People also purchased

Related chapters

Unlock Textbook Solution

Enter your email below to unlock your verified solution to:

“Made in the USA” survey. Refer to the Journal of Global