A Company Is Willing to Renew Its Publishing Contract with a Popular

Multiple Choice

A company is willing to renew its publishing contract with a popular statistics book author only if he can prove that his book can sell to more than 22% of the entire statistics market.The publishing company contacts 5000 statistics professors at random and only 1050 professors were interested in the book.Should the company renew the contract? Should the company renew the contract? State the critical value required to perform an appropriate hypothesis test using α = 0.01.

A) 2.576
B) 3.09
C) 2.326
D) 1.645
E) 1.96