It has been found that 50.3% of U.S. households own stocks and mutual funds. A random sample

Question:

It has been found that 50.3% of U.S. households own and mutual funds. A random sample of 300 heads of households indicated that 171 owned some type of stock. At what level of significance would you conclude that this was a significant difference?
Perform each of the following steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use the traditional method of hypothesis testing unless otherwise specified. Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...