Find the P-Value for the Indicated Hypothesis Test

question 63

Multiple Choice

Find the P-value for the indicated hypothesis test. Round all proportions and standard scores to two decimal places.
-A nationwide study of American homeowners revealed that 65% have one or more lawn mowers. A lawn equipment manufacturer, located in Omaha, feels the estimate is too low for households in Omaha. Find the P-value for a test of the claim that the proportion with lawn mowers in Omaha is higher than 65%. Among 497 randomly selected homes in Omaha, 338 had one or more lawn mowers.

• A)0.0808
• B)0.8080
• C)0.9192
• D)0.0404

---

Definitions:

Corporate Bond

A debt security issued by a corporation and sold to investors to raise financing for capital-intensive projects or operational costs.

Primary Market

The financial market where new securities are issued and sold for the first time, typically directly by the issuer to investors.

Secondary Market

A financial market where previously issued financial instruments such as stock, bonds, options, and futures are bought and sold.

Interest

The cost of borrowing money, often expressed as a percentage rate over a period of time, or the income earned from lending money.