Essay
New Mousetrap
After a financial analysis,the general manager of a large company decided that if more than 8% of potential buyers of a new mousetrap purchase that product,the company would show a profit.In a preliminary survey of 500 potential buyers,56 people say that they will buy the mousetrap.
-{New Mousetrap Narrative} Is there sufficient evidence at the 5% significance level that the mousetrap will produce a profit?
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Rejection region: z > z0.05 = 1.64...View Answer
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