Sample Statistic, p-value, Confidence interval Assignment

Sample Statistic, p-value, Confidence interval - Assignment Example 1) What is the null hypothesis (H0) tested? H0: Ï€ ≠¤ 0.5 2) What is the alternative hypothesis (H1)? H1: Ï€ > 0.5 3) Sample statistic: a. What is the meaning of the sample statistic? A sample statistic is calculated numerical value that characterizes some aspect of sample set of data, often meant to estimate the real value of the corresponding parameter in an underlying population. What is its value? 0.05 4) Test statistic: a. What is the meaning of the test statistic? The test stat is the distance of the sample proportion from the population proportion in standard errors of the distribution of the test statistic b. What is its value? 0.8944 5) Critical values: a. What is the meaning of critical value? Critical value(s) is a factor used to compute the margin of error. Critical value(s) of the test statistic bounds the rejection region(s) of probability alpha = the risk we are willing to take of rejecting H0 when H0 is true b. What is (are) the critical value(s)? Critical lower value is 1.6449