An economist read a report that claimed that 60% of residents in her large city owned their homes. She wondered if that figure was still accurate, so she took a random sample of n = 50 residents in...

Extracted text: An economist read a report that claimed that 60% of residents in her large city owned their homes. She wondered if that figure was still accurate, so she took a random sample of n = 50 residents in the city and observed that p = 70% of those sampled owned their homes. To see how likely a sample like this was to happen by random chance alone, the economist performed a simulation. She simulated 100 samples of n = 50 residents from a large population where 60% of the residents owned their homes. She recorded the proportion of residents who owned their homes in each sample. Here are the sample proportions from her 100 samples: 0.40 0.50 0.60 0.70 0.80 Check again


Extracted text: She wants to test Ho : p = 60% vs. Ha :p+ 60% where p is the true proportion of residents in this city that own their homes. Based on these simulated results, what is the approximate p-value of the test? Note: The sample result was p = 70%. Choose 1 answer: A p-value 0.05 B p-value 0.08 C. p-value 0.14 p-value 0.21 D.