Astudent believes that less than 50% of students at his college receive financial aid. a random sample of 120 students was taken. sixty-five percent of the students in the sample receive financial aid. test the hypothesis at the 2% level of significance. what are the p-value and conclusion? a. 999; do not reject h0 b. 02; reject h0

P-value is greater than the significance level, we fail to reject null hypothesis.

Explanation:

Here,  

Sample size = n = 120

Sample proportion = p = 0.6500

Population Proportion = = 0.5

Level of significance = α = 0.02

Step 1:

: p = 0.5

: p < 0.5 (Left tailed test)

Step 2:

The critical vale is = 2.0537

Step 3:  

The test statistic is,

z =  

Step 5:

Conclusion using critical value: Since the test statistic value is greater than the critical value, we fail to reject null hypothesis.

Step 6:  

Conclusion using P-value: Since the P-value is greater than the significance level, we fail to reject the null hypothesis.    

i'ts proportional. if the inflation rate is 12% for example, the cpi will be 12% less.

hope it ,

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