Using standard normal distribution table

Solved Step by Step With Explanation- Reject null

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Solved Step by Step With Explanation- Reject null

The alternative hypothesis indicates that you are interested in whether p is not equal to 0.418. This implies a two-tailed test because you are considering both the possibilities of p being less than 0.418 and greater than 0.418.

b. Find the P-value: To find the P-value, you need to calculate the probability of obtaining a test statistic as extreme as the one you observed (2.46) under the null hypothesis. In a two-tailed test, you calculate the probability in both tails of the distribution.

Therefore, the P-value is approximately 0.0069 (for one tail) + 0.0069 (for the other tail) = 0.0138.

c. Using a significance level of 0.05, should we reject Ho or should we fail to reject Ho? The significance level (α) is the threshold that you set to determine whether the P-value is small enough to reject the null hypothesis. In this case, α is given as 0.05.