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In one city, 25 out of 100 randomly sampled teenagers say that they smoke.
(a) Consider the hypotheses versus . Explain what the researcher would be testing. Perform the test at the level of significance. Write a conclusion for the test. Round the test statistic to the nearest hundredth.
(b) Repeat part (a) for the hypotheses versus .
(c) Based on your results in parts (a) and (b), write a few sentences that explain the difference between "accepting" the statement in the null hypothesis versus "not rejecting" the statement in the null hypothesis. 3 Test hypotheses about a population proportion using the binomial probability distribution.
Monthly Payment
The amount paid each month on a loan, mortgage, or other debt obligation.
APR
Annual Percentage Rate; the annual rate charged for borrowing or earned through an investment, accounting for fees and compound interest.
APR Discount Rate
The annual percentage rate that represents the actual yearly cost of funds over the term of a loan, including any fees or additional costs associated with the transaction.
Monthly Payments
Regular payments made over a specified period of time towards the settlement of a debt obligation, typically calculated on an amortization schedule.
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