1. Math
  2. Statistics And Probability
  3. historically the proportion of people who trade in their old...

Question: historically the proportion of people who trade in their old...

Question details

Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-car buyers, 46 have traded in their old car. To determine (at the 5% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased; what is the critical value? (please round your answer to 2 decimal places)

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution