A well-known brokerage firm executive claimed that at least 32 % of investors are currently confident...

A well-known brokerage firm executive claimed that at least 32 % of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that out of 122 randomly selected people, 38 of them said they are confident of meeting their goals.

Suppose you have the following null and alternative hypotheses for a test you are running:

H0:p=0.32H0:p=0.32
Ha:p≠0.32Ha:p≠0.32

Calculate the test statistic, rounded to 3 decimal places

z=

Expert Solution

Here in this Question it is given that, A well-known brokerage firm executive claimed that at least 32 % of investors are currently confident of meeting their investment goals. An XYZ Investor Optimism Survey, conducted over a two week period, found that out of 122 randomly selected people, 38 of them said they are confident of meeting their goals.

The sample proportion will be 38/122 which is 0.3115 ( please note that this us rounded value).

Further in this scenario the correct hypothesis is given below, to test the claim we have to use one proportion z test as below,

please note that the z Statistic is rounded to three decimal places ( actually it is -0.201847779) .

Here also the as sample proportion is rounded but when calculating test statistic i used all decimals.

Hope you understood

Thank you.

orchestra answered 1 year ago

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