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5. A nancial advisor believes that the proportion of investors who are riskaverse [i.e., try to avoid risk in their investment decisions) is at least
5. A nancial advisor believes that the proportion of investors who are riskaverse [i.e., try to avoid risk in their investment decisions) is at least 0.7. A survey of 32 investors found that 20 of them were risk- averse. Formulate and test the appropriate hypotheses to determine whether his belief is valid
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