Do not hate me please. It's gonna be over soon.
Let's see if I understood what we did till now. Let's take this excercice.
In a random sample of 160 b-schools students, 72 sample members indicated some measure of their agreement with this statement: "scores on a standardized entrance exam are less important for a student's chances to succedeed academically than his high school GPA" Test th enull hypothesis that one half of all b-schools students would agree with this statement against a two sided alternative. Find and interpret the p-value.
Okay. I found the p value in this way: 72/160= 0.45 so
(0.45-0.50)/ sqroot(0.5*0.5/160) = -1.265
I go to the table and find 89.62%. Then I remembe that the alternative is 2 sided, so I do 1-.8962= 1038 and multiply it by 2. So p is 0.2076.
Now I am unsecure about what to do. Shall I take arbitrary alfa of 5%? Thank you so much for your patiente and help.