Identify the Null Hypothesis, Alternative Hypothesis, Test Statistic, P-Value, Conclusion

question 74

Essay

Identify the null hypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim.
-In a clinical study of an allergy drug, 108 of the 202 subjects reported experiencing significant relief from their symptoms. At the 0.01 significance level, test the claim that more than half of all those using the drug experience relief.

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Definitions:

Promoter Fees

Fees paid to an individual or company that facilitates the promotion or creation of a business opportunity or event.

Minimum Legal Capital

The least amount of capital that must be maintained by a corporation as required by law, intended to protect creditors.

Stock Subscriptions

Commitments made by investors to purchase shares of stock from a company, often before they are issued.

Treasury Stock

Shares that were once part of the outstanding shares and have been reacquired by the issuing company.