Should the Assumption of a Binomial Distribution with a Probability $\pi$

question 1

Essay

Should the assumption of a binomial distribution with a probability of purchase $\pi$
equal to 0.50 be rejected at the 5% significance level?
Hypotheses: ____________________
Test statistic = ____________________
Critical Value = ____________________
Conclusion: ____________________________

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Definitions:

Owner's Withdrawals

Money or other assets taken out of a business by the owner for personal use, not considered a business expense.

Owner's Equity

The residual interest in the assets of a company after deducting liabilities, representing the owner's claim on the business assets.

Expenses

Costs incurred in the process of earning revenue, typically classified as operating or non-operating expenses.

Revenue

The total income generated from normal business operations, including the sale of goods and services before any expenses are deducted.