In a random sample of 404 adult (age 25 or over) US Citizens, 123 of them hold a Bachelor's degree. Let p be the true proportion of adult US Citizens that hold a Bachelor's degree. Does the sample indicate that p is lower than 0.43? Use a 0.01 level of significance. What is the p-value of this test?
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- Null hypothesis (H0): p = 0.43, which states that the true proportion of adult US citizens holding a Bachelor's degree is 0.43. - Alternative hypothesis (H1): p < 0.43, which suggests that the true proportion is less than 0.43. Show more…
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