According to the Pew Research Center, 14% of adults rate basketball as their favorite sport. Your boss believes the proportion may be lower among adults over age 65, and wants you to collect evidence to see if this is true. You take a survey of adults over age 65, and only 12 out of 120 of them rate basketball as their favorite sport. You would like to set=0.05

=0.05. Your boss tells you that your firm will base some expensive decisions on the results of your hypothesis test, so a higher standard of evidence for rejecting the null hypothesis is needed. What should you do?

Answer Choices

Reduce the significance level to 1%

Keep the significance level the same but collect more data

Increase the significance level to 10%

Throw out any observations that look suspicious