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Suppose it is believed that in the population, 65% of Americans have less than $2,000 saved for an emergency. A random sample of 50 people
Suppose it is believed that in the population, 65% of Americans have less than $2,000 saved for an emergency. A random sample of 50 people is taken and it is found that 30 out of 50 of them have less than $2,000 saved for an emergency. Do we have evidence to suggest that less than 65% of the population has such an amount saved for an emergency? Set alpha to .05.
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