EQuestion Help Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is though to be at least 07. A financial advisor believes that the proportion is actually less than 0.7 A survey of 36 investors found that 24 of them were risk-averse Formulate a one-sample hypothesis test for a proportion to test this belief Determine the null hypothesis, Ha, and the alternative hypothesis, H, Hp H (Type integers or decimals. Do not round )

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**Hypothesis Testing: Proportion of Risk-Averse Investors**

Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is thought to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 36 investors found that 24 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief.

**Determine the null hypothesis, \( H_0 \), and the alternative hypothesis, \( H_1 \):**

- \( H_0 \): \( p \geq 0.7 \)
- \( H_1 \): \( p < 0.7 \)

(Type integers or decimals. Do not round.)
Transcribed Image Text:**Hypothesis Testing: Proportion of Risk-Averse Investors** Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is thought to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 36 investors found that 24 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. **Determine the null hypothesis, \( H_0 \), and the alternative hypothesis, \( H_1 \):** - \( H_0 \): \( p \geq 0.7 \) - \( H_1 \): \( p < 0.7 \) (Type integers or decimals. Do not round.)
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