A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want to buy a condominium in Florida. At the 0.01 significance level, test the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. To decide if the sample data support the 55%, state your decision in terms of the null hypothesis. Use a 0.01 level of significance.

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The Answer of A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want to buy a condominium in Florida. At the 0.01 significance level, test the statement that 55% of those families who plan to purchase a vacation residence in Florida want a condominium. To decide if the sample data support the 55%, state your decision in terms of the null hypothesis. Use a 0.01 level of significance.

A Random Sample of 400 Families Who Planned to Buy