Question
In recent years more people have been working past the age of 65. In 2005, 27% of people aged 65-69 worked. A recent report from
In recent years more people have been working past the age of 65. In 2005, 27% of people aged 65-69 worked. A recent report from the Organization for Economic Co-operation and Development (OECD) claimed that the percentage working had increased (USA Today, November 16, 2012). The findings reported by the OECD were consistent with taking a sample of 600 people aged 65-69 and finding that 180 of them were working.
a.Develop a point estimate of the proportion of people aged 65-69 who are working (to 2 decimals).
b.Set up a hypothesis test so that the rejection of H0 will allow you to conclude that the proportion of people aged 65-69 working has increased from 2005.
H0: p
Ha: p
c.Conduct your hypothesis test using =.05.
p-value is
What is your conclusion?
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
Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
ISBN: 978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
