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Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006,

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Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 56 stocks traded on the NYSE that day showed that 9 went up. You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of @ = 0.01. d What is the test statistic for this sample? (Report answer accurate to three decimal places.) test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.) 3 p-value = The p-value is... O less than (or equal to) & O greater than a This test statistic leads to a decision to... O reject the null O accept the null O fail to reject the null As such, the final conclusion is that... O There is sufficient evidence to warrant rejection of the claim that the proportio of stocks that went _ up is less than 0.3. : O There is not sufficient evidence to warrant rejection of the claim that the proportion of stocks that went up is less than 0.3. ; O The sample data support the claim that the proportion of stocks that went up is less than 0.3. O There is not sufficient sample evidence to support the claim that the proportion of stocks that went mb

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