A well-known brokerage firm executive claimed that 50% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found...

A well-known brokerage firm executive claimed that 50% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that in a sample of 800 people, 49% of them said they are confident of meeting their goals.

Test the claim that the proportion of people who are confident is smaller than 50% at the 0.01 significance level.

The null and alternative hypothesis would be:

H0:μ≤0.5H0:μ≤0.5 H1:μ>0.5H1:μ>0.5 H0:μ=0.5H0:μ=0.5 H1:μ≠0.5H1:μ≠0.5

H0:p≤0.5H0:p≤0.5 H1:p>0.5H1:p>0.5 H0:p=0.5H0:p=0.5 H1:p≠0.5H1:p≠0.5

H0:μ≥0.5H0:μ≥0.5 H1:μ<><0.5 h0:p≥0.5h0:p≥0.5><><>

The test is:

right-tailed two-tailed left-tailed

The test statistic is: ___?_____ (to 3 decimals)

The p-value is: ___?___ (to 4 decimals)

Jun 09, 2022

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A well-known brokerage firm executive claimed that 50% of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found...

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