Prior to the start of the season, it was expected that audience proportions for the four major news networks would be CBS 28%, NBC 35%, ABC 22% and BBC 15%. A recent sample of homes yielded the following viewing audience data. 
We want to determine whether or not the recent sample supports the expectations of the number of homes of the viewing audience of the four networks.
a.State the null and alternative hypotheses to be tested.
b.Compute the test statistic.
c.The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test.
d.What do you conclude?
Definitions:
Fixed Percentage
A predetermined, unchanging fraction or rate used in various financial contexts, such as a fixed-rate mortgage.
External Financing
Funds a company seeks from outside sources, such as loans, investor equity, or bonds, to finance its activities.
Internal Growth Rate
The maximum rate at which a company can expand its operations using only internally generated revenue and without resorting to external financing.
Equity Multiplier
A financial ratio that measures the portion of a company's assets financed by stockholders' equity, reflecting financial leverage.
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