a) Choose the appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds this year than 10 years ago. H0: p Ha: p (b) Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds is 44% this year. What is the p value for your hypothesis test? If required, round your answer to four decimal places. Do not round your intermediate calculations. (c) At α = 0.01, what is your conclusion? We the null hypothesis. We conclude that a smaller proportion of American families own stocks or stock funds this year than they did 10 years ago.
Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 44%.
(a) Choose the appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds this year than 10 years ago.
H0: p
Ha: p
(b) Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds is 44% this year. What is the p value for your hypothesis test? If required, round your answer to four decimal places. Do not round your intermediate calculations.
(c) At α = 0.01, what is your conclusion?
We the null hypothesis. We conclude that a smaller proportion of American families own stocks or stock funds this year than they did 10 years ago.
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