Essay
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?
Correct Answer:
Verified
a.H0: P 
0.3
Ha: P > 0.3
b.0.020...View Answer
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Correct Answer:
Verified
0.3Ha: P > 0.3
b.0.020...
View Answer
Unlock this answer now
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