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 36 investors found that 24 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,. Ho (Type integers or decimals. Do not round.)

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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 36 investors found that 24 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,.
Ho
H,:
(Type integers or decimals. Do not round.)
Transcribed Image Text: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 36 investors found that 24 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,. Ho H,: (Type integers or decimals. Do not round.)
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