Suppose that we wish to assess whether more than 60 percent of all u. s. households in a particular income class bought life insurance last year. that is, we wish to assess whether p, the proportion of all u. s. households in the income class that bought life insurance last year, exceeds .60. assume that an insurance survey is based on 1,000 randomly selected u. s. households in the income class and that 640 of these households bought life insurance last year

Step-by-step explanation:

Set up hypotheses as:

(Right tailed test)

Sample proportion p = favourable/total =

p difference

Sample std error =

Critical value for95% = 1.96

Margin of error =

Confidence interval for proportions

=

Since confidence interval does not contain 0.60 we reject null hypothesis.

At 5% significance level we can accept thta proportion >0.60

step-by-step explanation:

let

we know that

the y-intercept is the y-coordinate of the point when the value of x is equal to zero

so

the y-coordinate of the point a is the y-intercept

the answer part a) is

the value of y-intercept is

part b) find the slope m

we know that

the value of the slope is equal to

substitute the values

therefore

the answer part b) is

the value of the slope is equal to

the general answer is

the slope is

the value of y-intercept is