Question
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012).
a. Develop appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. H0: Ha:
b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)?
c. At =.01, what is your conclusion?
Step by Step Solution
3.34 Rating (145 Votes )
There are 3 Steps involved in it
Step: 1
solution ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
635d5927c6863_174781.pdf
180 KBs PDF File
635d5927c6863_174781.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started