Q.6.1

A national publishing house claims that 37% of all weekly magazine readers in South Africa read their publication. Test this claim at the 1% significance level, if a survey found that 140 out of a random sample of 400 magazine readers said that they read the relevant publication. (8)

Q.6.2

The CEO of a large financial institution claims that, on average, their clients invest more than R45 000 per year in a particular portfolio. Test this claim at the 5% significance level if it was found that a sample of 21 clients invested

an average of R44 500 in the portfolio over the last year, with a standard deviation of R5 500. (12)