In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement. a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller for people in the 66 - 69 age group who did not complete high school than it is for the population of the 66 - 69 age group. Ho: p greater than or equal to 0.71 v Hap less than 0.71 b. In a random sample of 300 people from the 66 - 69 age group who did not complete high school, 165 were not prepared financially for retirement. What is the p-value for your hypothesis test (to 4 decimals)? If your answer is zero, enter "0". c. At a = 0.01, what is your conclusion? We conclude high school. that the percentage of 66 - 69 year old individuals who are adequately prepared financially for retirement is smaller for those who did not complete
In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement. a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller for people in the 66 - 69 age group who did not complete high school than it is for the population of the 66 - 69 age group. Ho: p greater than or equal to 0.71 v Hap less than 0.71 b. In a random sample of 300 people from the 66 - 69 age group who did not complete high school, 165 were not prepared financially for retirement. What is the p-value for your hypothesis test (to 4 decimals)? If your answer is zero, enter "0". c. At a = 0.01, what is your conclusion? We conclude high school. that the percentage of 66 - 69 year old individuals who are adequately prepared financially for retirement is smaller for those who did not complete
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
I needed help with B.
Transcribed Image Text:In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed
concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement.
a. Develop appropriate hypotheses such that rejection of Ho will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller
for people in the 66 - 69 age group who did not complete high school than it is for the population of the 66 - 69 age group.
Ho: p greater than or equal to 0.71 v
Hap less than 0.71
b. In a random sample of 300 people from the 66 - 69 age group who did not complete high school, 165 were not prepared financially for retirement. What is the p-value for your
hypothesis test (to 4 decimals)? If your answer is zero, enter "0".
c. At a = 0.01, what is your conclusion?
We conclude
high school.
that the percentage of 66 - 69 year old individuals who are adequately prepared financially for retirement is smaller for those who did not complete
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman