dolution

The president of a satellite radio company believes that at least 60% of American have heard of satellite radio and 40% own satellite radios. He also believes that those satellite radio owners in the USA listen to the satellite radio for at least 100 minutes per week. An independent marketing research firm did a survey by randomly selected 1,000 American. There were 50% of all the sample participants responded “yes” to the question “have you heard of satellite radio?” and 30% of all these participants responded “yes” to the question “do you own a satellite radio?” Among all the satellite radio owners in this survey, they indicated that they spent an average of 98.7 minutes listening to the satellite radio in the past week with a standard deviation of 25 minutes. Test the president’s hypotheses with the findings from the marketing research firm’s survey. Interpret your findings.