Exercise 2. A random sample of n = 1, 400 observations from a bino- mial population produced x = 674 successes. You wish

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Exercise 2. A random sample of n =
1, 400 observations from a bino- mial population
produced x = 674 successes. You wish to show
that p differs from 0.5. Conduct a test of
hypothesis at the 5% level.
(a) State the level of the test.
(b) State the Null and Alternative hypothesis.
(c) Calculate the appropriate test statistic. (Round your
answer to two decimal places.)
(d) Compute the p-value.
(e) Draw the conclusions about possible rejection of the
Null hypothesis.
(f) State the conclusions of the test in appropriate plain
language: ”The observed data....” (do not use words like:
hypothesis, test etc.)
(g) Has the level of the test been chosen to reduce false
positives or false negatives?