Discuss the below:
Q: A manufacturer claims that at least 99% of all his products meet the minimum government standards. A survey of 500 products revealed ten did not meet the standard.
Conduct the standard hypothesis test procedure and response the following:
- What is the null hypothesis?
- What is the alternate hypothesis?
- What is the critical value if a = .01?
- What is the z-statistic?
- What is your decision? Do the products meet the government standards?