Question
Hypothesis Test for a Population Proportion A well-known brokerage firm executive claimed that 10% of investors are currently confident of meeting their investment goals. An
Hypothesis Test for a Population Proportion
A well-known brokerage firm executive claimed that 10% 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, 1% of them said they are confident of meeting their goals.
Test the claim that the proportion of people who are confident is smaller than 10% at the 0.025 significance level.
The null and alternative hypothesis would be:
H0:0.1H00.1 H1:<0.1H10.1H0:=0.1H00.1 H1:0.1H10.1
H0:p=0.1H0p0.1 H1:p0.1H1p0.1
H0:0.1H00.1 H1:>0.1H10.1
H0:p0.1H0p0.1 H1:p>0.1H1p0.1
H0:p0.1H0p0.1 H1:p<0.1H1p0.1
The test is:
two-tailedright-tailed
left-tailed
The test statistic z is:(round to 3 decimal places)
The p-value is:(round to 3 decimal places)
Based on this we:
- Fail to reject the null hypothesis
- Reject the null hypothesis
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started