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Suppose a recent random sample of employees nationwide who have a 401(k) retirement plan found that 21% 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 21% of them had borrowed against it in the last year. A random sample of 105 employees from a local company who have a 401(k) retirement plan found that 21 had borrowed from their plan. Based on the sample results, is it possible to conclude, at the a = 0.10 level of signicance, that the local company had a lower proportion of borrowers from its 401(k) retirement plan than the 21% reported nationwide? Identify the null and altemative hypotheses for this test. Let p be the population proportion of employees from the local company who bonowed against his or her 401(k) retirement plan in the last year. 9' A. H0: p s 0.21 HA: p > 0.21 B. H0: p
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