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A recent article concerning bullish and bearish sentiment about the stock market reported that 41% of investors responding to an American Institute of Individual Investors

A recent article concerning bullish and bearish sentiment about the stock market reported that 41% of investors responding to an American Institute of Individual Investors (AAII) poll were bullish on the market and 26% were bearish (USA Today, January 11, 2010). The article also reported that the long-term average measure of bullishness is .39 or 39%. Suppose the AAII poll used a sample size of 450. Using .39 (the long-term average) as the population proportion of investors who are bullish, conduct a hypothesis test to determine if the current proportion of investors who are bullish is significantly greater than the long-term average proportion.

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