Answered: QUESTION 6 Test the claim that the…

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.4: Collecting Data

Problem 3E

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A well-known brokerage firm executive claimed that at least 90% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 800 people, 88% of them said they are confident of meeting their goals.

What practical conclusion can we make about the claim?

What would be our formal conclusion if we used a 0.01 significance level?

QUESTION 6
Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the test statistic to three decimal places.
029
QUESTION 7
Test the claim that the proportion of people who are confident is smaller than 90% at the 0.05 significance level. Determine the p-value to the fourth decimal place.
.0294

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