Solved - Hypothesis - Proportion Test | Z test, P-value | First-time home buyers

Problem Solved:
Some first-time home buyers-especially millennials are raiding their retirement accounts to cover the down payment on a home. An economist is concerned that the percentage of millennials who will dip into their retirement accounts to fund a home now exceeds 20%. He randomly surveys 190 millennials with retirement accounts and finds that 50 are borrowing against them.
1. Set up the null and the alternative hypotheses to test the economist's concern.
2. Calculate the value of the test statistic and the p-value.
3. Determine if the economist's concern is justifiable at α=0.05.
z-test for μ template: • Hypothesis Z-test for ...
t-test μ template: • Hypothesis t-test Temp...
Hypothesis - Proportion (p) template: • Hypothesis Test for Pr...
Hypothesis Test for Proportion: • Hypothesis Test for Pr...
Confidence Interval for Proportion: • Confidence Interval fo...

[@joshemman]

Hypothesis - Proportion Test (p) Excel template: ua-cam.com/video/TE52-_8-yQU/v-deo.html

[@shwetankallphotossingh6813]

1-0.984= .0.0146.
0.0416 is wrong

[@joshemman]

Nice catch. Thanks.

[@LAKSHAYANAND-k8k]

P value is 0.0146... Please make that correction

[@FRAMEDWORLD960]

the p is 0.2 how com you use 0.8 instead of 0.2

[@joshemman]

You're right. There is a typo in the denominator at 1:08. The answer is computed using 0.2 however. Thanks for pointing it out.

[@korjedeeachira6528]

Hello sir, should the number on (1-p) be (1-0.2)?

[@-pipsy-]

hi i have checked and it supposed to be 1-0.2, however when you convert the decimal places, you will be getting 2.179 which can convert to 2.18

[@korjedeeachira6528]

@@-pipsy- thanks 🙏

[@roshana4430]

1-0.9854= 0.0146

[@aukeilia_ramos]

Yeah, I got the same thing

[@kinleew5370]

Very helpful! thank you

[@ivywong378]

Why do we look at 2.1 under 0.08? I am not sure why 0.08., thank you!

[@joshemman]

2.18 = 2.1 + 0.08

[@iu.jieuni9166]

why 0.9854 is not the p-value? why do we need to subtract it from 1 first?

[@vipkosters6410]

Cause we look at a right sided tail. If you want to look at right sides values always 1-…, if you look at a left tail then you don’t need to substract it

[@chrisfallon142]

.0146

[@jmcarino6339]

where did he get the 0.0290? 1:19

[@joshemman]

At 1:19, 0.0290 is what you obtain when you evaluate the denominator.

[@jmcarino6339]

​@@joshemmanthanks

[@jmcarino6339]

​@@joshemmani substracted 1-0.9845 and its 0.0146 and not 0.0416 how was that

[@joshemman]

@@jmcarino6339 You're right. That was a transposition error.