Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help solving, also understanding what calculator functions to use. I have a TI-84 plus, 4. About 35% of U.S. adults said they personally owned

Need help solving, also understanding what calculator functions to use. I have a TI-84 plus,

4. About 35% of U.S. adults said they personally owned stocks, bonds or mutual funds outside of retirement accounts in a Pew Research Center survey from September 2019. Suppose we randomly select 500 adults from the state of Michigan and we want to know if adults in Michigan are more likely to own stocks, bonds, or mutual funds outside of retirement accounts. To find out, we will run a hypothesis test at a significance level of = 0.05. Of the 500 people in the sample, 196 owned stocks, bonds, or mutual funds outside of retirement accounts.

A) State the null and alternative hypothesis.

B) Calculate the standard error.

C) Find the test-statistic and p-value.

D) What does the p-value mean in context? Answer in complete sentences.

E) State the test decision.

F) What is your conclusion in context?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Functional Analysis And The Feynman Operator Calculus

Authors: Tepper L Gill, Woodford W Zachary, Zachary Woodford

1st Edition

331927595X, 9783319275956

More Books

Students also viewed these Mathematics questions