please do all parts carefully....... Tina Dennis is the comptroller for Meek Ind

Question

please do all parts carefully.......

Tina Dennis is the comptroller for Meek Industries. She believes that the current cash-flow problem at Meek is due to the slow collection of accounts receivable. She believes that more than 60% of the accounts are in arrears more then 3 month Arndm sample of 200 accounts showed that 140 were more than 3 months old. At the 0.01 significance level, can she conclude that more than 60% of the accounts are in arrears for more than three months? State the null and alternate hypotheses. ??: : H1: ? :0.60 Make the decision rule. (Round your answer to 2 decimal places.) H0 is rejected if z> Evaluate the test statistic. (Round your answer to 2 decimal places.) Test statistic What is the decision regarding the null hypothesis? HO is 60% of the accounts are more than 3 months old. rejected not rejected More than Not more than

Explanation / Answer

Hypothesis:
H0 : P = 0.60
Ha : P >= 0.60

Desision rule

H0 is rejected if z > 2.33

Test statistics:

p = 140/200 = 0.70

z = ( p - P)/sqrt(P * ( 1- P)/n)
= ( 0.70 - 0.60)/sqrt(0.70 * (1 - 0.70)/200)
= 3.09

H0 is rejectred More than 60% of the accounts are more than 3 months old

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