Question

	Own Stock?
Response of Interest	Yes
Sample Size	200
Count for Response	94
Sample Proportion	0.4700
Confidence Interval
Confidence Coefficient	0.90
Lower Limit
Upper Limit
Hypothesis Test
Hypothesized Value	0.57
Test Statistic
P-value (Lower Tail)
P-value (Upper Tail)
P-value (Two Tail)	0.0043

Fifteen years ago 57% of American families had money invested in the stock market. It is believed that this percentage has dropped. To see if this is true, Morningstar recently sampled 200 American families and recorded in Excel each family’s Yes/No answer to the question “Do you have money invested in the stock market?”. Based on these results, can Morningstar declare that the proportion of American families who have money invested in the stock market is now lower than .57 at α=.01? Use the excel output above to answer the following question.

For the 90% confidence interval, find the upper (i.e., right) endpoint.

Answer 1

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