Essay
A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want to buy a condominium in Florida. At the 0.01 significance level, test the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. To decide if the sample data support the 55%, state your decision in terms of the null hypothesis. Use a 0.01 level of significance.
Correct Answer:
Verified
Fail to reject H0: µ = 0.55
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Correct Answer:
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Explanation: ...
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