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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

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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 600 people, 73% 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 0.01 significance level. The null and alternative hypothesis would be: Ho:p 2 0.8 Ho: u 0.8 Ho:p 0.8 H1 :p 0.8 H1 :p / 0.8 H1;p / 0.8 O O O O O O The test is: left-tailed right-tailed two-tailed O O The test statistic is: to 3 decimals) The p-value is: (to 4 decimals) Based on this we: O Reject the null hypothesis O Fail to reject the null hypothesis

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