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 95% confidence, 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 95% confidence, 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 95% confidence, what is your conclusion? Should the manufacturer produce the new electric powered car?

An Automobile Manufacturer Stated That It Will Be Willing to Mass