A well-known brokerage firm executive claimed that 50% of investors are currently confident of meeting their...

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 300 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 0.005 significance level:

1. The test statistic is: (to 3 decimals)

2. The p-value is: (to 4 decimals)

Expert Solution

orchestra answered 2 years ago

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