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Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is though to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. Determine the null hypothesis, H. and the alternative hypothesis, H,.-

Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is though to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. Determine the null hypothesis, H. and the alternative hypothesis, H,.-

MATLAB: An Introduction with Applications
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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Can you please also 1. Compute the statistic (Round two decimal places as needed) 2. Find the p-value for the test (Round three decimal places as needed) 3.State the conclusion at the 0.05 level of significance
### Hypothesis Testing Example Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is thought to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. #### Step-by-Step Solution: 1. **Determine the null hypothesis, \( H_0 \), and the alternative hypothesis, \( H_1 \):** - **Null Hypothesis (\( H_0 \))**: \( H_0: p \geq 0.7 \) - **Alternative Hypothesis (\( H_1 \))**: \( H_1: p < 0.7 \) 2. **Enter your answer in the edit fields and then click Check Answer.** 3. **Graphical Representation:** There are no specific graphs or diagrams provided in this screenshot that require detailed explanation. --- This content is designed to help learners practice hypothesis testing in statistics, specifically focusing on proportions.
Transcribed Image Text:### Hypothesis Testing Example Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is thought to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. #### Step-by-Step Solution: 1. **Determine the null hypothesis, \( H_0 \), and the alternative hypothesis, \( H_1 \):** - **Null Hypothesis (\( H_0 \))**: \( H_0: p \geq 0.7 \) - **Alternative Hypothesis (\( H_1 \))**: \( H_1: p < 0.7 \) 2. **Enter your answer in the edit fields and then click Check Answer.** 3. **Graphical Representation:** There are no specific graphs or diagrams provided in this screenshot that require detailed explanation. --- This content is designed to help learners practice hypothesis testing in statistics, specifically focusing on proportions.
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