A well-known brokerage firm executive claimed that 60% 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 800 people, 58% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 60% at the 0.05 significance level. The null and alternative hypothesis would be: H0:p≤0.6H0:p≤0.6 H1:p>0.6H1:p>0.6 H0:μ≥0.6H0:μ≥0.6 H1:μ<0.6H1:μ<0.6 H0:p=0.6H0:p=0.6 H1:p≠0.6H1:p≠0.6 H0:p≥0.6H0:p≥0.6 H1:p<0.6H1:p<0.6 H0:μ=0.6H0:μ=0.6 H1:μ≠0.6H1:μ≠0.6 H0:μ≤0.6H0:μ≤0.6 H1:μ>0.6H1:μ>0.6 The test is: 1) left-tailed 2) right-tailed 3) two-tailed The test statistic is: ______ (to 3 decimals) The p-value is: _______ (to 4 decimals)
A well-known brokerage firm executive claimed that 60% 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 800 people, 58% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 60% at the 0.05 significance level. The null and alternative hypothesis would be: H0:p≤0.6H0:p≤0.6 H1:p>0.6H1:p>0.6 H0:μ≥0.6H0:μ≥0.6 H1:μ<0.6H1:μ<0.6 H0:p=0.6H0:p=0.6 H1:p≠0.6H1:p≠0.6 H0:p≥0.6H0:p≥0.6 H1:p<0.6H1:p<0.6 H0:μ=0.6H0:μ=0.6 H1:μ≠0.6H1:μ≠0.6 H0:μ≤0.6H0:μ≤0.6 H1:μ>0.6H1:μ>0.6 The test is: 1) left-tailed 2) right-tailed 3) two-tailed The test statistic is: ______ (to 3 decimals) The p-value is: _______ (to 4 decimals)
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
Related questions
Question
A well-known brokerage firm executive claimed that 60% 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 800 people, 58% of them said they are confident of meeting their goals.
Test the claim that the proportion of people who are confident is smaller than 60% at the 0.05 significance level.
The null and alternative hypothesis would be:
H0:p≤0.6H0:p≤0.6
H1:p>0.6H1:p>0.6
H1:p>0.6H1:p>0.6
H0:μ≥0.6H0:μ≥0.6
H1:μ<0.6H1:μ<0.6
H1:μ<0.6H1:μ<0.6
H0:p=0.6H0:p=0.6
H1:p≠0.6H1:p≠0.6
H1:p≠0.6H1:p≠0.6
H0:p≥0.6H0:p≥0.6
H1:p<0.6H1:p<0.6
H1:p<0.6H1:p<0.6
H0:μ=0.6H0:μ=0.6
H1:μ≠0.6H1:μ≠0.6
H1:μ≠0.6H1:μ≠0.6
H0:μ≤0.6H0:μ≤0.6
H1:μ>0.6H1:μ>0.6
H1:μ>0.6H1:μ>0.6
The test is:
1) left-tailed
2) right-tailed
3) two-tailed
The test statistic is: ______ (to 3 decimals)
The p-value is: _______ (to 4 decimals)
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