A certain financial services company uses surveys of adults age 18 and older to determine if personal financial fitness is changing over time. A recent sample of 1,000 adults showed 410 indicating...


A certain financial services company uses surveys of adults age 18 and older to determine if personal financial fitness is changing over time. A recent sample of 1,000 adults showed 410 indicating that their financial security was more than fair. Suppose that just a year before, a sample of 700 adults showed 245 indicating that their financial security was more than fair.


(a)


State the hypotheses that can be used to test for a significant difference between the population proportions for the two years. (Letp
1 = population proportion most recently saying financial security more than fair andp
2 = population proportion from the year before saying financial security more than fair. Enter != for ≠ as needed.)


H
0:




H
a:








(b)


Conduct the hypothesis test and compute thep-value. At a 0.05 level of significance, what is your conclusion?

Find the value of the test statistic. (Use p1 − p2. Round your answer to two decimal places.)


Find thep-value. (Round your answer to four decimal places.)


p-value =


State your conclusion.


RejectH
0. There is insufficient evidence to conclude the population proportions are not equal. The data do not suggest that there has been a change in the population proportion saying that their financial security is more than fair.

Do not rejectH
0. There is sufficient evidence to conclude the population proportions are not equal. The data suggest that there has been a change in the population proportion saying that their financial security is more than fair.

Do not reject
H
0. There is insufficient evidence to conclude the population proportions are not equal. The data do not suggest that there has been a change in the population proportion saying that their financial security is more than fair.

RejectH
0. There is sufficient evidence to conclude the population proportions are not equal. The data suggest that there has been a change in the population proportion saying that their financial security is more than fair.






(c)


What is the 95% confidence interval estimate of the difference between the two population proportions? (Round your answers to four decimal places.)

                 to

What is your conclusion?

The 95% confidence interval  ---Select--- contains or is completely below or is completely above zero, so we can be 95% confident that the population proportion of adults saying that their financial security is more than fair  ---Select--- has increased or may have stayed the same or has decreased .


Jun 07, 2022
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