Many young adults live at home with their parents due to various reasons, such as lack of income, postponing marriage, and saving money for school. A recent survey reports that approximately 36% of all young adults (ages 18-31) live with their parents (Fry, 2013). In order to check this claim, a random sample of 440 young adults was obtained and 183 of them were found to live with their parents. Is there sufficient evidence to conclude that the proportion of young adults who live at home with their parents is higher than the value the survey reported? Use α = 0.01.
What was the data that was collected in this problem?
Is this quantitative data or qualitative data?
State the value of the sample statistic rounded to 2 decimal places.
State the value of the population parameter that is being tested in this problem.
State the level of significance given in the problem.
State the hypotheses using the correct statistical symbols.
State the test statistic rounded to 2 decimal places.
State the P-value rounded to 4 decimal places.
What is the correct decision?
In a complete sentence, indicate the strength of this P-value and give a conclusion using the SPECIFIC context of the problem that you are testing. I should be able to read this conclusion sentence and know specifically what the test was about.