A well-known brokerage firm executive claimed that 50% 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 100 people, 44% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 50% at the 0.10 significance level. The null and alternative hypothesis would be:

H0:p=0.5H0:p=0.5 H1:p0.5H1:p0.5 H0:p0.5H0:p0.5 H1:p>0.5H1:p>0.5 H0:p0.5H0:p0.5 H1:p<0.5H1:p<0.5 H0:=0.5H0:=0.5 H1:0.5H1:0.5 H0:0.5H0:0.5 H1:<0.5H1:<0.5 H0:0.5H0:0.5 H1:>0.5H1:>0.5 The test is:

two-tailed right-tailed left-tailed The test statistic is: (to 3 decimals) The p-value is: (to 4 decimals) Based on this we:

• Reject the null hypothesis
• Fail to reject the null hypothesis