The nationwide percentage of Americans who invest in the stock market is usually taken to be 55%. Is this percentage different in Georgia? A survey and analysis among Georgia residents led to a test statistic of 1.548.

(a) What does this test statistic mean?

The sample proportion of Georgia residents who invest is 1.548 standard errors above the actual proportion of Georgia residents who invest.

The standard error of the investors is 1.548, with the sample proportion of Georgia residents who invest being greater than expected.

The sample proportion of Georgia residents who invest is 1.548 standard errors above the true nationwide value.

(b) What is thep-value to test if the proportion of Georgians who invest in the stock market isdifferentthan the nationwide average? (Use 4 decimals.)

(c) Suppose the sample size was increased, with other sample results remaining the same. How would this affect the hypothesis test conclusion?

The test statistic would---increasedecreaseremain the same, leading to a---the samesmallerlargerp-value and---strongerthe sameweakerevidence that the proportion of Georgians who invest in the stock market is different from the nationwide figure.