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$0.75 Statistics Question

  • From Mathematics: Statistics
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  • Due on Dec. 16, 2009
  • Asked on Dec 15, 2009 at 2:48:09PM
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collegejunkee
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Q:

. An insurance company states that 75% of its claims are settled within 5 weeks.  A consumer group selected a random sample of 65 of the company’s claims and found 43 of the claims were settled within 5 weeks. Is there enough evidence to support the consumer group’s claim that fewer than 75% of the claims were settled within 5 weeks?  Test using the traditional approach with alpha = 0.05.
·         State the null and alternate hypotheses
·         Calculate the sample proportion
·         Determine which test statistic applies, and calculate it
·         Determine the critical value(s).
·         State your decision: Should the null hypothesis be rejected?

 

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