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I keep getting these wrong. A well-known brokerage firm executive claimed that 70% of investors are currently confident of meeting their investment goals. An XYZ

I keep getting these wrong.

A well-known brokerage firm executive claimed that 70% 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 600 people, 76% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is larger than 70% at the 0.10 significance level. A)Which would the null and alternative hypothesis be:

  • H0:p=0.7 Ha:p>0.7
  • H0:p=0.7 Ha:p<0.7
  • H0:p=0.7 Ha:p0.7
  • H0:0.7 Ha:>0.7
  • H0:=0.7 Ha:0.7
  • H0:0.7 Ha:<0.7

B)

Is the test:

right-tailed two-tailed left-tailed C)The test statistic is (rounded to 3 decimals): D)The p-value is(rounded to 4 decimals): E)Based on this do we:

  • Fail to reject the null hypothesis
  • Reject the null hypothesis

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