A well-known brokerage firm executive clalmed that 40% of Investors are currently confident of meeting thelr Investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that In a sample of 800 people, 33% of them sald they are confldent of meeting their goals. Test the claim that the proportlon of people who are confident Is smaller than 40% at the 0.005 significance level. The null and alternative hypothesis would be: Ho:u 2 0.4 Ho :µ = 0.4 Ho:p < 0.4 Ho:p= 0.4 Ho:µ <0.4 Ho:p 2 0.4 o H1:p < 0.4 H1:µ # 0.4 H1:p > 0.4 H1:p 0.4 H1: µ > 0.4 H1:p < 0.4 %3D The test is: right-tailed two-tailed left-tailed o The test statistic is: (to 3 decimals) The p-value is: (to 4 decimals)

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Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.