p value and excel formula

Question

A publisher reports that 31 % of their readers own a particular make of car. A marketing executive wants to test the claim that the percentage is actually more than the reported percentage. A random sample of 120 found that 35 % of the readers owned a particular make of car. Is there sufficient evidence at the 0.01 level to support the executive's claim? Find the value of the test statistic. Round your answer to two decimal places

Answer 1

In Excel if you click over to the data analysis tab in the data section of tab you will open up analysis tools. there you can find the t-test. Click on the t-test and fill in the range of cells containing your relevant data. (note: if the data analysis tab is not there go to options > add ins > manage add ins and click the data analysis toolpak) after choosing the t-test you feel is necessary and change alpha to .01 for this specific question. Your p value will show up along with other relevant statistical tests. The p values look like this syntactically...

p(T<=t) one tail

p(T<=t) two tail

I hope this helps!