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A well-known brokerage firm executive claimed that 90% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over
A well-known brokerage firm executive claimed that 90% 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 400 people, 98% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is larger than 90% at the 0.05 significance level. The null and alternative hypothesis would be: Ho:M 2 0.9 Ho:p 2 0.9 Ho :p 0.9 H1 :p # 0.9 H1:u > 0.9 H1:u # 0.9 O The test is: right-tailed left-tailed two-tailed The test statistic is: (to 3 decimals) The p-value is: (to 4 decimals) Based on this we: O Fail to reject the null hypothesis O Reject the null hypothesis
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