Question

A recent survey in the N.Y. Times Almanac indicated that 48.8% of families own stock. A broker wanted to determine if this survey could be valid. He surveyed a random sample of 250 families and found that 143 owned some type of stock. At the 0.05 significance level, can the survey be considered to be accurate? Note: If you are using a Student's t-distribution for the problem, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.)

What is the p-value. (Round your answer to four decimal places.)

Answer 1