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In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have
In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement. a. Develop appropriate hypotheses such that rejection of /o will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller for people in the 66 - 69 age group who did not complete high school than it is for the population of the 66 - 69 age group. Ho: p greater than or equal to 0.71 Ha: p less than 0.71 b. In a random sample of 300 people from the 66 - 69 age group who did not complete high school, 165 were not prepared financially for retirement. What is the p-value for your hypothesis test (to 4 decimals)? If your answer is zero, enter "0". c. At a = 0.01, what is your conclusion? Navigation Menu vve conclude that the percentage of 66 - 69 year old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school
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