A well-known brokerage firm executive claimed that 80% 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 700 people, 79% of them said they are confident of meeting their goals.

Test the claim that the proportion of people who are confident is smaller than 80% at the 0.05 significance level.

The test is:

left-tailed

two-tailed

right-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