A newsletter publisher believes that 49% of their readers own a Rolls Royce. Is there sufficient evidence at the 0.05 level to refute the publisher's claim? State the null and alternative hypotheses for the above scenario.

A newsletter publisher believes that 49% of their readers own a Rolls Royce. Is there sufficient evidence at the 0.05 level to refute the publisher's claim? State the null and alternative hypotheses for the above scenario.

Null hypothesis ⇒ H₀: p = 0.49

Alternative hypothesis ⇒ Hₐ: p ≠ 0.49

Step-by-step explanation:

Given that α = 0.05

From the given information, the null and alternative hypothesis is expressed below:

Null hypothesis ⇒ H₀: p = 0.49

Alternative hypothesis ⇒ Hₐ: p ≠ 0.49