Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You may need to use the appropriateappendix tableortechnologyto answer this question. Ten years ago54% of a country's families owned stocks or stock funds. Sample data

You may need to use the appropriateappendix tableortechnologyto answer this question.

Ten years ago54% of a country's families owned stocks or stock funds. Sample data collected by an investment company indicated that the percentage is currently46%.

image text in transcribed
(=) Develop appropriate hypotheses such that rejection of H, will support the conclusion that a smaller proportion of the country's families own stocks or stock funds now versus 10 years ago. Ho: p > 0.54 Hip s 0.54 O H: p = 0.54 H.: p = 0.54 Hip 0.54 (b) Assume the investment company sampled 300 of the country's families to estimate that the percent owning stocks or stock funds is currently 46%. What is the p-value for your hypothesis test? Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = At a = 0.01, what is your conclusion? O Reject H. There is insufficient evidence to conclude that there has been a statistically significant decline in the proportion of the country's families owning stocks or stock funds over last ten years. O Do not reject Ho. There is sufficient evidence to conclude that there has been a statistically significant decline in the proportion of the country's families owning stocks or stock funds over the last ten years. Do not reject Ho. There is insufficient evidence to conclude that there has been a statistically significant decline in the proportion of the country's families owning stocks or stock funds over the last ten years. O Reject Ho. There is sufficient evidence to conclude that there has been a statistically significant decline in the proportion of the country's families owning stocks or stock funds over the last ten years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Analysis For Management

Authors: Barry Render, Ralph M. Stair, Michael E. Hanna

11th Edition

9780132997621, 132149117, 132997622, 978-0132149112

Students also viewed these Mathematics questions