Suppose in 2018, RAND Corporation researchers found that 77% 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 year old. (Enter ! for as needed.). Ho P≥0.77 P<0.77 H₂: (b) In a random sample of 300 people from the 66-69 age group who did not complete high school, 171 were not prepared financially for retirement. What is the p-value for your hypothesis test? Find the value of the test statistic. (Round your answer to two decimal places.) -8.23 x Find the p-value. (Round your answer to four decimal places.) p-value = -8.23 x (c) At a 0.01, what is your conclusion? = O Do not reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. O Do not reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high. school. O Reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. Reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.
Suppose in 2018, RAND Corporation researchers found that 77% 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 year old. (Enter ! for as needed.). Ho P≥0.77 P<0.77 H₂: (b) In a random sample of 300 people from the 66-69 age group who did not complete high school, 171 were not prepared financially for retirement. What is the p-value for your hypothesis test? Find the value of the test statistic. (Round your answer to two decimal places.) -8.23 x Find the p-value. (Round your answer to four decimal places.) p-value = -8.23 x (c) At a 0.01, what is your conclusion? = O Do not reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. O Do not reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high. school. O Reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school. Reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.
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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Suppose in 2018, RAND Corporation researchers found that 77% 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 year old. (Enter != for ‡ as needed.)
Ho:
P≥0.77
Ha:
p<0.77
(b) In a random sample of 300 people from the 66-69 age group who did not complete high school, 171 were not prepared financially for retirement. What is the p-value for your hypothesis test?
Find the value of the test statistic. (Round your answer to two decimal places.)
-8.23
Find the p-value. (Round your answer to four decimal places.)
p-value = -8.23
X
(c) At a = 0.01, what is your conclusion?
Do not reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.
Do not reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high
school.
Reject Ho. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.
Reject Ho. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.
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