Consider the following to answer the question(s) below:
Winnipeg Pet Plus believes that it has a market share of 25 percent of the local dog food market. They survey 100 dog owners and ask whether or not it is their regular source of dog food, and 23 people say "yes."
-The correct value of the test statistic is
A) -0.462.
B) -0.475.
C) 0.462.
D) 0.475.
E) -0.456.

Question

Quizplus · Accepted Answer

The test statistic for a proportion is calculated using the formula: (p̂ - p) / √(p(1-p)/n), where p̂ is the sample proportion, p is the hypothesized population proportion, and n is the sample size. Here, p̂ = 23/100 = 0.23, p = 0.25, and n = 100. Plugging these values into the formula gives a test statistic of approximately -0.462.

Consider the Following to Answer the Question(s) Below