Explain carefully whether or not there is sufficient evidence of an improvement lately with respect to passing on the first try?
In the past, 44% of those taking a public accounting qualifying exam have passed the exam on their first try, Lately, the availability of exam preparation books and tutoring sessions may have improved the likelihood of and individual’s passing on his or her first try. In a sample of 250 recent applicants,130 passed on their first attempt
a) At 5% level of significance, is there sufficient evidence of an improvement lately with respect to passing on the first try? (your conclusion must be in terms of p value as well as setting up a rejection region.please show necessary work)
b)which statistical distribution should be applied in this situation and why? (explain)
c)knowing that a monetary investment is required to take preparatory actions, should we put much weight on the conclusion of part (a) EXPLAIN
d)Based on a 95% confidence level, what is the best case and worst case scenario regarding the actual percentage of applicants who pass on their first try?
e)carefully interpret the interval estimation
f)using the results of part (d) explain carefully whether or not there is sufficient evidence of an improvement lately with respect to passing on the first try?
NOTE:Please Include all assumptions and refrain from using electronic applications like megastat etc. Show workings as much as possible. cheers
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