A well-known brokerage firm executive claimed that 60% 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, 58% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 60% at the 0.05 significance level. The null and alternative hypothesis would be: H0:p≤0.6H0:p≤0.6 H1:p>0.6H1:p>0.6 H0:μ≥0.6H0:μ≥0.6 H1:μ<0.6H1:μ<0.6 H0:p=0.6H0:p=0.6 H1:p≠0.6H1:p≠0.6 H0:p≥0.6H0:p≥0.6 H1:p<0.6H1:p<0.6 H0:μ=0.6H0:μ=0.6 H1:μ≠0.6H1:μ≠0.6 H0:μ≤0.6H0:μ≤0.6 H1:μ>0.6H1:μ>0.6 The test is: 1) left-tailed 2) right-tailed 3) two-tailed The test statistic is: ______ (to 3 decimals) The p-value is: _______ (to 4 decimals)

A well-known brokerage firm executive claimed that 60% 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, 58% of them said they are confident of meeting their goals. Test the claim that the proportion of people who are confident is smaller than 60% at the 0.05 significance level. The null and alternative hypothesis would be: H0:p≤0.6H0:p≤0.6 H1:p>0.6H1:p>0.6 H0:μ≥0.6H0:μ≥0.6 H1:μ<0.6H1:μ<0.6 H0:p=0.6H0:p=0.6 H1:p≠0.6H1:p≠0.6 H0:p≥0.6H0:p≥0.6 H1:p<0.6H1:p<0.6 H0:μ=0.6H0:μ=0.6 H1:μ≠0.6H1:μ≠0.6 H0:μ≤0.6H0:μ≤0.6 H1:μ>0.6H1:μ>0.6 The test is: 1) left-tailed 2) right-tailed 3) two-tailed The test statistic is: (to 3 decimals) The p-value is: _ (to 4 decimals)

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.7: Probability

Problem 58E: What is meant by the sample space of an experiment?

See similar textbooks

Similar questions

What is meant by the sample space of an experiment?
A well-known brokerage firm executive claimed that 40% 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 500 people, 35% of them said they are confident of meeting their goals.Test the claim that the proportion of people who are confident is smaller than 40% at the 0.005 significance level.The null and alternative hypothesis would be: H0:μ≥0.4 H1:μ<0.4 H0:p≤0.4 H1:p>0.4 H0:p=0.4 H1:p≠0.4 H0:p≥0.4 H1:p<0.4 H0:μ=0.4 H1:μ≠0.4 H0:μ≤0.4 H1:μ>0.4 The test is: two-tailed left-tailed right-tailed The test statistic is: (to 3 decimals)The p-value is: (to 4 decimals)Based on this we: Reject the null hypothesis Fail to reject the null hypothesis
An educational report asserts that 70% of all young adults start planning their career at the age of 18. In a sample of 1000 adults, 744 started their career plans at the age of 18. Test whether the true proportion of all young adults who began planning their career at the age of 18 is more than 70% at the 5% significance level.State the null hypothesis and the alternative hypothesis. Group of answer choices H0: p = 0.7 vs. Ha: p ≠ 0.7 H0: p = 0.7 vs. Ha: p < 0.7 H0: p = 0.7 vs. Ha: p ≥ 0.7 H0: p = 0.7 vs. Ha: p ≤ 0.7 H0: p = 0.7 vs. Ha: p > 0.7
A fast-food restaurant claims that a small order of french fries contains 120 calories. A nutritionist is concerned that the true average calorie count is higher than that. The nutritionist randomly selects 35 small orders of french fries and determines their calories. The resulting sample mean is 155.6 calories, and the pp-value for the hypothesis test is 0.00093. Which of the following is a correct interpretation of the p-value? A)If the population mean is 120 calories, the p -value of 0.00093 is the probability of observing a sample mean of 155.6 calories or more. B) If the population mean is 120 calories, the p -value of 0.00093 is the probability of observing a sample mean of 155.6 calories or less. C)If the population mean is 120 calories, the p -value of 0.00093 is the probability of observing a sample mean of 155.6 calories or more, or a sample mean of 84.4 calories or less. .D)If the population mean is 155.6 calories, the p -value of 0.00093…
A concerned group of citizens wanted to know if the proportion of armed robberies in Texas was different in 2011 than in 2010. Their research showed that of the 113,231 violent crimes in Texas in 2010, 7,622 of them were armed robberies. In 2011, 7,439 of the 104,873 violent crimes were in the armed robbery category. Test at a 5% significance level.a) The null and alternative hypothesis would be: �0:�2010=�2011�1:�2010≠�2011 �0:�2010=�2011�1:�2010<�2011 �0:�2010=�2011�1:�2010≠�2011 �0:�2010=�2011�1:�2010>�2011 �0:�2010=�2011�1:�2010>�2011 �0:�2010=�2011�1:�2010<�2011 b) Determine the test statistic. Round to two decimals.�=c) Find the p-value and round to 4 decimals.p = d) Make a decision. Fail to reject the null hypothesis Reject the null hypothesis e) Write the conclusion. There is not sufficient evidence to support the claim that the proportion of armed robberies is different in 2011 than 2010. There is sufficient evidence to support the claim that the…