A well known brokerage firm executive has indicated that 20 of investors are currently confident of meeting their investment goals An XYZ Investor Optimism Survey conducted over a two week period found that in a sample of 300 people 12 of them said they are confident of meeting their goals Test the claim that the proportion of people who are confident is smaller than 20 at the 0 10 significance level The null and alternative hypothesis would be Ho p 0 2 H p 0 2 O Ho 0 2 H 0 2 0 2 Ho H 0 2 O Ho p 0 2 H p 0 2 O Ho p 0 2 H 0 2 O Ho p 0 2 H p 0 2 The test is two tailed right tailed left tailed The test statistic is The p value is Based on this we O Fail to reject the null hypothesis Reject the null hypothesis to 3 decimals to 4 decimals