A pizza chain is considering opening a new store in an area that currently does not have any such stores.The chain will open if there is evidence that more than 5,000 of the 20,000 households in the area have a favorable view of its brain.It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a favorable view.The p-value associated with the test statistic in this problem is approximately equal to:
A)0.0100
B)0.0051
C)0.0026
D)0.0013

Question

Quizplus · Accepted Answer

The p-value is calculated based on the sample proportion (96/300) compared to the hypothesized proportion (5000/20000 = 0.25). The p-value of approximately 0.0026 indicates strong evidence against the null hypothesis, suggesting more than 5,000 households have a favorable view.

A Pizza Chain Is Considering Opening a New Store in an Area