The Owner of a Marina Would Like to Believe That

question 2

Short Answer

The owner of a marina would like to believe that more than 40% of the sailboat owners use their boats more than 6 times each summer. A random sample of 70 sailboat owners showed 42 used their boats more than 6 times each summer. Test the appropriate hypotheses using a significance level of 0.005. Is there reason for the marina owner to believe more than 40% of the sailboat owners use their boats more than 6 times each summer?
Test statistic = ______________
Critical Value(s) = ______________
Conclusion: ______________
Interpretation: __________________________________________

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Definitions:

Goods or Services

The outcome of business activities which can be either physical products (goods) or intangible offerings (services) provided to customers.

Process

A series of actions or steps taken in order to achieve a particular end.

Specific Sequence

An exact order in which related events or processes occur.

Inputs and Outputs

In a system or process, inputs are the resources used, while outputs are the products or services generated.