An automobile manufacturer stated that it will be willing to mass produce electric-powered cars if more than 30% of potential buyers indicate they will purchase the newly designed electric cars. In a sample of 500 potential buyers, 160 indicated that they would buy such a product.
a.State the hypotheses for this problem.b.Compute the standard error of 
.c.Compute the test statistic.d.At the 5% level of significance, what is your conclusion? Should the manufacturer produce the new electric-powered car?
What will be an ideal response?
| a. | H0: p .3 |
| Ha: p> .3 | |
| b. | .0205 |
| c. | z = .98 |
| d. | p-value = .1635 > .05; do not reject H0; no, the manufacturer should not produce the new electric-powered cars. |
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