well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 500 people, 35% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 40% at the 0.005 significance level. The null and alternative hypothesis would be: H0:μ≥0.4 H1:μ<0.4
well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 500 people, 35% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 40% at the 0.005 significance level. The null and alternative hypothesis would be: H0:μ≥0.4 H1:μ<0.4
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
Problem 8CR
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A well-known brokerage firm executive claimed that 40% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 500 people, 35% of them said they are confident of meeting their goals.
Test the claim that the proportion of people who are confident is smaller than 40% at the 0.005 significance level.
The null and alternative hypothesis would be:
H0:μ≥0.4
H1:μ<0.4
H0:p≤0.4
H1:p>0.4
H0:p=0.4
H1:p≠0.4
H0:p≥0.4
H1:p<0.4
H0:μ=0.4
H1:μ≠0.4
H0:μ≤0.4
H1:μ>0.4
The test is:
two-tailed
left-tailed
right-tailed
The test statistic is: (to 3 decimals)
The p-value is: (to 4 decimals)
Based on this we:
- Reject the null hypothesis
- Fail to reject the null hypothesis
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