Question: As part of a decision regarding a new product launch, you want to test whether or not a large enough percentage (10% or more) of the community would be interested in purchasing it. You will launch the product only if you find convincing evidence of such demand. A survey of 400 randomly selected people in the community finds that 13.0% are willing to try your proposed new product.
a. Why is a one-sided test appropriate here?
b. Identify the null and research hypotheses for a one-sided test using both words and mathematical symbols.
c. Perform the test at the 5% significance level and describe the result.
d. Perform the test at the 1% significance level and describe the result.
e. State the p-value as either p > 0.05, p < 0.05, p < 0.01, p < 0.001.