real estate company claims that 44% of all home buyers find their real estate agent through a friend. In your work for this company, you find that in a sample of 1762 home buyers, 712 found their real estate agent through a friend. Can you reject the company’s claim at the 0.01 significance level? Using the hypothesis test.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.CR: Chapter 12 Review
Problem 48CR
icon
Related questions
Question

A real estate company claims that 44% of all home buyers find their real estate agent through a friend. In your work for this company, you find that in a sample of 1762 home buyers, 712 found their real estate agent through a friend. Can you reject the company’s claim at the 0.01 significance level? Using the hypothesis test.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Recommended textbooks for you
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning