A 2014 study by the reputable Gallup organization estimates that 34% of U.S. adults are worried about money. We want to know if the proportion is greater this year. We select a random sample of 100 U.S. adults this year and find that 40% are worried about money.After carrying out the hypothesis test for p = 0.34 compared to p > 0.34, we obtain a P‑value of 0.10. Which of the following interpretations of the P‑value is correct? There is a 10% chance that 34% of U.S. adults are worried about money this year. There is a 10% chance that 40% of U.S. adults are worried about money this year. There is a 10% chance that 40% or more of U.S. adults are worried about money this year if 34% were worried about money in 2014. There is a 10% chance that a sample of 100 U.S. adults will have 40% or more worried about money if 34% of the population is worried about money this year.

Name: A 2014 study by the reputable Gallup organization estimates that 34% o
Uploaded: 2024-03-20T07:07:00.000Z
Channel: Bartleby
Description: A 2014 study by the reputable Gallup organization estimates that 34% of U.S. adults are worried about money. We want to know if the proportion is greater this year. We select a random sample of 100 U.S. adults this year and find that 40% are worried

Concept of p-value: The p-value in hypothesis testing is the probability of obtaining a test…

Answered: A 2014 study by the reputable Gallup…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

A 2014 study by the reputable Gallup organization estimates that 34% of U.S. adults are worried about money. We want to know if the proportion is greater this year. We select a random sample of 100 U.S. adults this year and find that 40% are worried about money.

After carrying out the hypothesis test for p = 0.34 compared to p > 0.34, we obtain a P‑value of 0.10. Which of the following interpretations of the P‑value is correct?

There is a 10% chance that 34% of U.S. adults are worried about money this year.
There is a 10% chance that 40% of U.S. adults are worried about money this year.
There is a 10% chance that 40% or more of U.S. adults are worried about money this year if 34% were worried about money in 2014.
There is a 10% chance that a sample of 100 U.S. adults will have 40% or more worried about money if 34% of the population is worried about money this year.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Hypothesis Tests and Confidence Intervals for Proportions$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions