Answer:
Option B) There is not sufficient evidence at the 0.05 level of significance to say that the percentage is less than 58%.
Step-by-step explanation:
We are given the following in the question:
p = 58% = 0.58
Alpha, α = 0.05
First, we design the null and the alternate hypothesis
[tex]H_{0}: p \geq 0.58\\H_A: p < 0.58[/tex]
The null hypothesis stated that the 58% or more of the readers own a Rolls Royce.
The alternate hypothesis states that less than 58% of the readers own a Rolls Royce.
The advertiser failed to reject the null hypothesis.
Thus, the null hypothesis was accepted. Thus, 58% or more of the readers own a Rolls Royce.
Thus, we can draw the conclusion:
Option B) There is not sufficient evidence at the 0.05 level of significance to say that the percentage is less than 58%.
