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In 2015, 63.8% of people were homeowners. In a survey done recently of 500 random Americans,...

In 2015, 63.8% of people were homeowners. In a survey done recently of 500 random Americans, 325 said they owned their home. Is there evidence that the proportion of people who own their home has risen since 2015? Use a significance level of 0.1 and make sure you check necessary criteria.

Math   Statistics-And-Probability   
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Answer #1


Total number of sample (n) = 500
number of favourable events (X) = 325

We are interested in testing the hypothesis

Since, the test is two-tail test at \alpha = 0.1

Decision Rule: Reject the null hypothesis if the test statistic value is greater than the critical value 1.28
The statistic value, 0.5583 is less than the critical values 1.28. Therefore, we fail to reject the null hypothesis.

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