The Next Questions Are Based on the Following Information

question 16

Essay

The Next Questions Are Based On The Following Information:
In a random sample of 200 high school students,92 sample members indicated some measure of agreement with this statement:"A prospective university's academic ranking and image is important to my decision to attend that institution."
-The Discovery Automobile Company is attempting to determine if it should retain a previously popular sports car model called El Nino.A random sample of 500 consumers is obtained,and each person in the sample is asked if he/she would still consider purchasing an El Nino.To determine if El Nino should be retained,the sample proportion of respondents who said yes,
,is used at a level α = 0.05 to test the hypothesis H₀ : P ≥ 0.5 against H₁ : P < 0.5.What value of the sample proportion,
,is required to reject the null hypothesis?

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Definitions:

Nonprofit Organization

An organization that operates for a public or social benefit, rather than to generate profit for owners or shareholders.

Sources of Gifts

Various origins from which donations or gifts can come, including individuals, corporations, foundations, and government entities.

Fund-raising

The act of collecting financial contributions from individuals, organizations, or governments to support nonprofit organizations, campaigns, or projects.

Development

The process of growth, progress, or evolution in a particular aspect such as economic, social, or personal development.