A survey of 100 CEOs finds that 60 think the economy will improve next year. Is there evidence that the rate is higher among all CEOs than the 55% reported by the public at large?
a. Find the standard deviation of the sample proportion based on the null hypothesis.
b. Find the z-statistic.
c. Does the z-statistic seem like a particularly large or small value?
2. Which of the following are true? If false, explain briefly.
a. A very low P-value provides evidence against the null hypothesis.
b. A high P-value is strong evidence in favor of the null hypothesis.
c. A P-value above 0.10 shows that the null hypothesis is true.
d. If the null hypothesis is true, you can’t get a P-value below 0.01