Statistics Problems - 10

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6. Award: 0.20 points    

Tina Dennis is the comptroller for Meek Industries. She believes that the current cash-flow problem at Meek is due to the slow collection of accounts receivable. She believes that more than 60% of the accounts are in arrears more than 3 months. A random sample of 200 accounts showed that 140 were more than 3 months old. At the 0.01 significance level, can she conclude that more than 60% of the accounts are in arrears for more than three months? State the null and alternate hypotheses.

H0: π 0.60. H1: π 0.60.

Make the decision rule. (Round your answer to 2 decimal places.)

H0 is rejected if z >

Evaluate the test statistic. (Round your answer to 2 decimal places.)

Test statistic

What is the decision regarding the null hypothesis?

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H0 is . 60% of the accounts are more than 3 months old.

References

Worksheet Difficulty: 2 Intermediate

Learning Objective: 15-01 Test a hypothesis about a population proportion.