In recent years more people have been working past the age of 65. In 2005, 27% of people aged 65-69 worked. A recent report from the Organization for Economic Co-operation and Development(OECD) claimed that the percentage working had increased (USA Today, November 16, 2012). The findings reported by the OECD were consistent with taking a sample of 600 people aged 65-69 andfinding that 180 of them were working.a. Develop a point estimate of the proportion of people aged 65-69 who are working (to 2 decimals).b. Set up a hypothesis test so that the rejection of Ho will allow you to conclude that the proportion of people aged 65-69 working has increased from 2005.Ho: p-Select your answer-HapSelect your answer -c. Conduct your hypothesis test using a = 0.05.p-valueSelect your answer-What is your conclusion?- Select your answer -▾ Ho

Step 1Given that, The null and alternative hypothesis is, H0 = 0.27Ha = p > 0.27This hypothesis…

Answered: In recent years more people have been…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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