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2/2/2012
unvrs, Master's Degree
Category: Business and Finance Homework
Satisfied Customers: 348
Experience: CFA Level 2 Candidate
Verifiedunvrs :
Hi, Welcome to Just Answer.
A.
H0: p = .5
H0: p >.5
B. The distribution has to be normal for us to perform a z-test.
C.
p-hat = .59
Test Statistic z = (.59-.5)/sqrt((.5)(.5)/507) = 4.053
D. p-value ~ 0
E. Since p-value is close to 0, H0 is rejected and it's statistically significant to conclude that more than half of American Catholics favor allowing women to be priests.
F. 95% Confidence interval = .59 +/- 1.96sqrt((.59)(.41)/507) = (.538, .642)
The confidence interval confirms the conclusion because the range is above 50%.
unvrs :
Please let me know if you have any questions.
Alice
unvrs, Master's Degree
Category: Business and Finance Homework
Satisfied Customers: 348
Experience: CFA Level 2 Candidate
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