Question
The Financial Services Council of New Zealand (2020) investigated New Zealanders' attitudes to financial risk. They used a sample of 2061 New Zealanders aged 18
The Financial Services Council of New Zealand (2020) investigated New Zealanders' attitudes to financial risk. They used a sample of 2061 New Zealanders aged 18 years or over (NZ adults). For now we will assume that the survey used simple random sampling.
Those in the sample were given the statement below and their responses are shown in Table 1.
I believe I should have more insurance, but can't afford to get it
Response | Agree | Neutral | Disagree | Don't know | Total |
Number | 902 | 450 | 610 | 99 | 2061 |
The percentage of those who agreed with the statement was cross classified by whether they were pre-retirement age (Under 65) or post-retirement age (65+). A bootstrap confidence interval was constructed to estimate the difference between the proportion of NZ adults aged under 65 who agreed with the statement (pUnder65) and the proportion of NZ adults aged 65 or over who agreed with the statement (p65+).
Which one of the following statements is false?
Group of answer choices
It is not plausible that p U n d e r 65 = p 65 +p U n d e r 65 = p 65 +p U n d e r 65 = p 65 +p U n d e r 65 = p 65 +p U n d e r 65 = p 65 +
An estimate for the proportion of NZ adults who agreed with the statement is 10.7%.
For all of the 1000 re-samples, the re-sample proportion for Under 65 is higher than the re-sample proportion for 65+.
For NZ adults aged under 65, it is a fairly safe bet that the proportion who agreed with the statement is somewhere between 5.3 and 15.9 percentage points higher than that of NZ adults aged 65 or older.
We cannot be certain that the difference between the true proportion of NZ adults aged under 65 who agreed with the statement and that for NZ adults aged 65 or over is between 0.053 and 0.159.
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