Question: According to a New York Times CBS News poll conducted during
According to a New York Times/CBS News poll conducted during June 24–28, 2011, 55% of the American adults polled said that owning a home is a very important part of the American Dream (The New York Times, June 30, 2011). Suppose this result was true for the population of all American adults in 2011. In a recent poll of 1800 American adults, 61% said that owning a home is a very important part of the American Dream. Perform a hypothesis test to determine whether it is reasonable to conclude that the percentage of all American adults who currently hold this opinion is higher than 55%. Use a 2% significance level, and use both the p-value and the critical-value approaches.
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