Ten years ago, 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46%. Develop appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds now than 10 years ago. Assume the Investment Company Institute samples 300 American families to estimate that the percent owning stocks or stock funds was 46%. What is the p-value for your hypothesis test? At α=.01, what is your conclusion?
Ten years ago, 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46%. Develop appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds now than 10 years ago. Assume the Investment Company Institute samples 300 American families to estimate that the percent owning stocks or stock funds was 46%. What is the p-value for your hypothesis test? At α=.01, what is your conclusion?
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
Related questions
Question
Ten years ago, 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now 46%.
- Develop appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds now than 10 years ago.
- Assume the Investment Company Institute samples 300 American families to estimate that the percent owning stocks or stock funds was 46%. What is the p-value for your hypothesis test?
- At α=.01, what is your conclusion?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning