To calculate the p-value for the given hypothesis test, we need to determine the probability of observing at least 497 successful observations, given that the null hypothesis
Step 1: Define the parameters
- Null hypothesis success probability:
- Sample size:
- Number of successful observations:
Step 2: Calculate and find the p-value
Since we are testing if the proportion is greater than 0.76, we want to find:
This can be calculated using the cumulative binomial distribution. The binomial random variable
The p-value can be calculated as:
Alternatively, we can use the cumulative distribution function (CDF) for the binomial distribution:
Step 3: Calculate the exact p-value
We need to calculate
Using a binomial calculator with parameters
After obtaining this value, subtract it from 1 to get the p-value:
For example, let’s assume the binomial calculator gives
Thus,
Final Answer:
This is accurate to four decimal places. You can use a binomial calculator, calculator, or software to get the exact cumulative binomial probability for your specific case. Please make sure to verify these calculations using the appropriate tools.