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Suppose a recent random sample of employees nationwide who have a 401(k) retirement plan found that 20% of them had borrowed against it in the
Suppose a recent random sample of employees nationwide who have a 401(k) retirement plan found that 20% of them had borrowed against it in the last year. A random sample of 115 employees from a local company who have a 401(k) retirement plan found that 18 had borrowed from their plan. Based on the sample results, is it possible to conclude, at the x = 0.025 level of significance, that the local company had a lower proportion of borrowers from its 401(k) retirement plan than the 20% reported nationwide? Identify the null and alternative hypotheses for this test. Let p be the population proportion of employees from the local company who borrowed against his or her 401(k) retirement plan in the last year. O A. Ho: p2 0.2 HA: P 0.2 K Perform the test using a normal approximation. Identify the test statistic. (Round to two decimal places as needed.) Identify the p-value. (Round to three decimal places as needed.) State the conclusion for this hypothesis test. sufficient evidence at the a = 0.025 level of significance to conclude that the population proportion of employees from the who borrowed against his or her 401(k) retirement plan in the last year Ho. There is
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