K & S Construction, located in Phoenix, Arizona, is working on its - 6553

Solution Posted by
UoPExpert

UoPExpert

Rating : (2)F
Solution Detail
Price: $1.30
  • From: ,
  • Posted on: Thu 05 Apr, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

K & S Construction, located in Phoenix, Arizona, is working on its business plan for the upcoming year. They did a study to determine if they should focus on building condominiums or individual houses. A building study, which had been conducted by the state, indicated that 60 percent of those families looking to buy a home in Arizona desired to buy a condominium. K & S Construction wanted to know if this figure applied to Phoenix. They collected a sample of 500 individuals that had expressed plans to buy a new home. The z-distribution was selected for this proportion test. The null hypothesis is p = 0.60 and the alternate is p ≠ 0.60. The significant level selected was .05. From the sample of 500, it was determined that 290 wanted to buy a condominium. What decision should be made regarding the null hypothesis? 

A.   Reject it  B.   Cannot accept nor reject it based on the information given 

C.   Fail to reject it D.   The test level of .05 is not acceptable  

 
Solution Description

K & S Construction, located in Phoenix, Arizona, is working on its business plan for the upcoming year. They did a study to determine if they should focus on building condominiums or individual houses. A buildin