Question 18: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.A sample of 57 stocks traded on the NYSE that day showed that 6 went up.You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of α=0.01α=0.01.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic = What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value = The p-value is...less than (or equal to) ααgreater than ααThis test statistic leads to a decision to...reject the nullaccept the nullfail to reject the nullAs such, the final conclusion is that...There is sufficient evidence to warrant rejection of the claim that the proportion of stocks that went up is less than 0.3.There is not sufficient evidence to warrant rejection of the claim that the proportion of stocks that went up is less than 0.3.The sample data support the claim that the proportion of stocks that went up is less than 0.3.There is not sufficient sample evidence to support the claim that the proportion of stocks that went up is less than 0.3. Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a goodbarometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIAincreased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analystclaims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up thesame day.A sample of 57 stocks traded on the NYSE that day showed that 6 went up.You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. Youuse a significance level of a = 0.01.What is the test statistic for this sample? (Report answer accurate to three decimal places.)test statistic =What is the p-value for this sample? (Report answer accurate to four decimal places.)p-value =The p-value is...less than (or equal to) agreater than aThis test statistic leads to a decision to...reject the nullaccept the nullfail to reject the nullAs such, the final conclusion is that...There is sufficient evidence to warrant rejection of the claim that the proportion of stocks that wentup is less than 0.3.There is not sufficient evidence to warrant rejection of the claim that the proportion of stocks thatwent up is less than 0.3.The sample data support the claim that the proportion of stocks that went up is less than 0.3.There is not sufficient sample evidence to support the claim that the proportion of stocks that wentup is less than 0.3.

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Answered: Question 18: Many investors and…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question 18: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2006, 9 of the 30 stocks making up the DJIA increased in price (The Wall Street Journal, February 1, 2006). On the basis of this fact, a financial analyst claims we can assume that 30% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day.

A sample of 57 stocks traded on the NYSE that day showed that 6 went up.

You are conducting a study to see if the proportion of stocks that went up is significantly less than 0.3. You use a significance level of α=0.01α=0.01.

What is the test statistic for this sample? (Report answer accurate to three decimal places.)
test statistic =

What is the p-value for this sample? (Report answer accurate to four decimal places.)
p-value =

The p-value is...

less than (or equal to) αα
greater than αα

This test statistic leads to a decision to...

reject the null
accept the null
fail to reject the null

As such, the final conclusion is that...

There is sufficient evidence to warrant rejection of the claim that the proportion of stocks that went up is less than 0.3.
There is not sufficient evidence to warrant rejection of the claim that the proportion of stocks that went up is less than 0.3.
The sample data support the claim that the proportion of stocks that went up is less than 0.3.
There is not sufficient sample evidence to support the claim that the proportion of stocks that went up is less than 0.3.