A study of female entrepreneurs was conducted to determine their definition of success. The women were offered optional choices such as happ
A study of female entrepreneurs was conducted to determine their definition of success. The women were offered optional choices such as happiness/self-fulfillment, sales/profit, and achievement/challenge. The women were divided into groups according to the gross sales of their businesses. A significantly higher proportion of female entrepreneurs in the $100,000 to $500,000 category than in the less than $100,000 category seemed to rate sales/profit as a definition of success. Suppose you decide to test this result by taking a survey of your own and identify female entrepreneurs by gross sales. You interview 100 female entrepreneurs with gross sales of less than $100,000, and 24 of them define sales/profit as success. You then interview 95 female entrepreneurs with gross sales of $100,000 to $500,000, and 39 cite sales/profit as a definition of success.
1. Use this information to test to determine whether there is a significant difference in the proportions of the two groups that define success as sales/profit. Use α = .05.
2. Calculate the value of the test statistics.
3. Calculate the p-value.