An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase the newly designed electric cars.In a sample of 500 potential buyers, 160 indicated that they would buy such a product.
a.
State the hypotheses for this problem.
b.
Compute the standard error of .
c.
Compute the test statistic.
d.
At the 5% level of significance, what is your conclusion? Should the manufacturer produce the new electric-powered car?

Question

An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase the newly designed electric cars.In a sample of 500 potential buyers, 160 indicated that they would buy such a product.
a.
State the hypotheses for this problem.
b.
Compute the standard error of  . 
c.
Compute the test statistic.
d.
At the 5% level of significance, what is your conclusion? Should the manufacturer produce the new electric-powered car?

Quizplus · Accepted Answer

The Answer of An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase the newly designed electric cars.In a sample of 500 potential buyers, 160 indicated that they would buy such a product.
a.
State the hypotheses for this problem.
b.
Compute the standard error of  . 
c.
Compute the test statistic.
d.
At the 5% level of significance, what is your conclusion? Should the manufacturer produce the new electric-powered car?

An Automobile Manufacturer Stated That It Will Be Willing to Mass