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Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months in a sample of 115 new-car buyers 46 have traded in the

Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-car buyers, 46 have traded in their old car. To determine (at the 10% level of significance) whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased; what is the critical value? (please round your answer to 2 decimal places)

For left tailed test, we need area of 0.1 on left of critical value. This is given by−z0.1 Find z such that P (Z

Apr 23 2020 View more View Less

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