A recent survey found that 68.6% of people own their homes. In a random sample of 150 heads of household, 92 responded that they own their homes. At a=0.01, does that suggest a difference for the proportion? Find the CV and compute the test value (TV) , and state your conclusion.
H0:p=0.686
H1:p≠0.686 (claim)
p-value
Since p-value > 0.01, do NOT reject the null hypothesis. There is significant evidence that the mean proportion of homeowners is not different from 68.6%.
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