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HELP ME with letter b PLEASE! Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company
HELP ME with letter b PLEASE!
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 48%. (a) Choose the appropriate hypotheses such that rejection of Ho will support the conclusion that a smaller proportion of American families own stocks or stock funds this year than 10 years ago. Ho: P 2 0.53 Ha: P 0.53 (b) Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds is 48% this year. What is the p value for your hypothesis test? If required, round your answer to four decimal places. Do not round your intermediate calculations. 0.0827 (c) At o = 0.01, what is your conclusion? We fail to reject the null hypothesis. We cannot conclude that a smaller proportion of American families own stocks or stock funds this year than they did 10 years agoStep by Step Solution
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