A well-known brokerage firm executive claimed that at least 90% 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, 88% of them said they are confident of meeting their goals. What would be our formal conclusion about the null hypothesis at a 0.05 significance level? QUESTION 6Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the test statistic to three decimal places.029QUESTION 7Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the p-value to the fourth decimal place..0294

It is known that if the p-value is less than the level of significance, the null hypothesis is…

Answered: An XYZ Investor Optimism Survey,…

An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 800 people, 88% of them said they ar

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 4GP

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

A well-known brokerage firm executive claimed that at least 90% 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, 88% of them said they are confident of meeting their goals.

What would be our formal conclusion about the null hypothesis at a 0.05 significance level?

QUESTION 6
Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the test statistic to three decimal places.
029
QUESTION 7
Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the p-value to the fourth decimal place.
.0294

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