A Company Reports That 80% of Its Employees Participate in the Companyʹs

Essay

A company reports that 80% of its employees participate in the companyʹs stock purchase
plan. A random sample of 50 employees was asked the question, ʺDo you participate in
the stock purchase plan?ʺ The answers are shown below. $\begin{array} { l l l l l l l l l l } \text { yes no } & \text { no } & \text { yes } & \text { no } & \text { no } & \text { yes } & \text { yes } & \text { no } & \text { no } \\ \text { no } & \text { yes } & \text { yes } & \text { yes } & \text { no } & \text { yes } & \text { no } & \text { no } & \text { yes } & \text { yes } \\ \text { no } & \text { yes } & \text { yes } & \text { no } & \text { yes } & \text { yes } & \text { no } & \text { yes } & \text { yes } & \text { yes } \\ \text { yes } & \text { no } & \text { no } & \text { yes } & \text { yes } & \text { yes } & \text { yes } & \text { yes } & \text { no } & \text { yes } \\ \text { no } & \text { yes } & \text { yes } & \text { no } & \text { yes } & \text { yes } & \text { yes } & \text { yes } & \text { yes } & \text { yes } \end{array}$
Perform the appropriate test of hypothesis to investigate your suspicion that fewer than $80 \%$ of the company's employees participate in the plan. Use $\alpha = .05$ .