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Mathematics, 10.05.2021 05:30 hopkinsgail5516
The CEO of a large company claims that 85% of customers are repeat customers. They define a repeat customer as someone who makes more than one purchase per month. A random sample of 200 customers shows that 162 are repeat customers. Do these data provide convincing evidence at the 5% significance level that less than 85% of customers of this company are repeat customers?
The P-value of this test is 0.0571. What conclusion should be made?
Because the P-value of 0.0571 < α = 0.05, we reject H0. We have convincing evidence that less than 85% of customers of this company are repeat customers.
Because the P-value of 0.0571 > α = 0.05, we fail to reject H0. We do not have convincing evidence that less than 85% of customers of this company are repeat customers.
Because the P-value of 0.0571 > α = 0.05, we fail to reject H0. We have convincing evidence that less than 85% of customers of this company are repeat customers.
Because the P-value of 0.0571 < α = 0.05, we reject H0. We do not have convincing evidence that less than 85% of customers of this company are repeat customers.
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