Question: Business and Management According to Catalyst, a nonprofit organization working to provide more opportunities for women and business, women currently hold 4.6% of Fortune 1000 CEO positions.78 Some economic researchers believe that women own a larger proportion of small businesses. A random sample of 550 small businesses in the United States was obtained, and 37 were owned by women.
a. Is there any evidence to suggest that the proportion of small businesses owned by women is greater than 4.6%? Use a = 0.01.
b. Find the p value for this hypothesis test.