(b) In a random sample of 300 people from the 66–69 age group who did not complete high school, 159 were not prepared financially for retirement. What is the p-value for your hypothesis test? Find the value of the test statistic. (Round your answer to two decimal places.)   Find the p-value. (Round your answer to four decimal places.) p-value =  (c) At  ? = 0.01,

Question
You may need to use the appropriate appendix table or technology to answer this question.
Suppose in 2018, RAND Corporation researchers found that 77% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed concern that a smaller percentage of those in this age group who did not complete high school are adequately prepared financially for retirement.
(a)
Develop appropriate hypotheses such that rejection of 
H0
 will support the conclusion that the proportion of those who are adequately prepared financially for retirement is smaller for people in the 66–69 age group who did not complete high school than it is for the population of the 66–69 year old. (Enter != for ≠ as needed.)
H0:
 
 
 
Ha:
 
 
 
(b)
In a random sample of 300 people from the 66–69 age group who did not complete high school, 159 were not prepared financially for retirement. What is the p-value for your hypothesis test?
Find the value of the test statistic. (Round your answer to two decimal places.)
 
Find the p-value. (Round your answer to four decimal places.)
p-value = 
(c)
At 
? = 0.01,
 what is your conclusion?
Do not reject H0. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.Reject H0. We cannot conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.    Do not reject H0. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.Reject H0. We conclude that the percentage of 66- to 69-year-old individuals who are adequately prepared financially for retirement is smaller for those who did not complete high school.

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Math
Statistics

Hypothesis Testing

Related Statistics Q&A

Find answers to questions asked by students like you.

Q: The weekly incomes of part-time employees were grouped into the following distribution. Weekly Incom...

A: Class  Frequency Cumulative frequency, cf 40-49 8 8 50-59 16 24 60-69 24 48 70-79 48 96 80...

Q: This is all one question. Please show work and formula. Thank you.   Based on historical data, your ...

A: Hello! As you have posted more than one different questions, we are answering the first question. In...

Q: The chances that a student will get 7 marks out of 10 in first attempt of a certain Quiz while attem...

A:   Note- As per our policy we can answer only 1st question. If you want solutions for other, then you...

Q: The average American consumes 92 liters of alcohol per year. Does the average college student consum...

A: From the given information, Consider, X be the random variable that shows the amount of alcohol cons...

Q: Find the P-value for a left-tailed hypothesis test with a test statistic of z = - 1.55. Decide wheth...

A: The value of test statistic is, z = -1.55 The level of significance is, α=0.05 The type of test is l...

Q: The highlighted one in the attached picture

A: a. Given that thee are 2383 adults, 1073 think that there should be more government regulation of oi...

Q: Assume that a simple random sample has been selected from a normally distributed population. Find th...

A: Click to see the answer

Q: PART (D). Calculate the least squares Put the equation in the form of hat y =a+bx, (Round your answe...

A: Given: The data of age and height is as follows Let birth be denoted as 0 age x y 0 50.8 2 8...

Q: It is believed that standardized test scores, such as SAT, is a good predictor of first-year college...

A: Hello there! There are multiple sub parts given with the question. According to our principles can a...

Q: Give the statistical meaning of the relationship between the spending hours on using mobile andreadi...

A: Answer: When we check the relationship between two variables then scatter plot is best plot to chec...

Q: (a) Compute the expected values of each cell under the assumption of independence. Had sexual interc...

A: The provided contingency table is: Had Sexual intercourse Both Biological or Adoptive Parents Sin...

Q: A car wholesaler estimates the quantity of new cars retailed that have been returned back a many num...

A: a. Let X is defined as the number of cars returns for rectifications for defects during the warranty...

Q: A fiber spinning process currently produces a fiber whose strength is normally distributed with a me...

A: Given: Population mean strength μ=75Pa Minimum acceptable strength = 65Pa 10% of the fiber fails to ...

Q: A recent study shows that 77% of all people file their taxes yearly.  A researcher takes a simple ra...

A: Given data, p =77% = 0.77 n = 100 Area = 20% = 0.20  

Q: An airline offers discounted "advance purchase " fares to customers who buy tickets more than 30 day...

A: Click to see the answer

Q: The table gives the amount of money (in dollars) spent on football by a major university. Letting z ...

A: Excel Procedure: Enter x and y in Excel>Data>Data Analysis> ‘Regression’>Select y under ...

Q: The game "High Rollers" is as follows. The participant Polls a standard 6-sided die. If the roll is ...

A: a) The probability distribution of this game is obtained as follows: Rolls Probability of the rol...

Q: RECIDIVISM Report a Chi-Square test of Independence and use a 5% significance level. Explain the pow...

A: Hypotheses: The two categories of interest are the “Treatment received” and “Recidivism rate”. The r...

Q: A student was asked to find a 90% confidence interval for widget width using data from a random samp...

A: Answer:-  Option D is the correct option.

Q: Annual starting salaries for college graduates with degrees in business administration are generally...

A: Click to see the answer

Q: Please label each part.

A: Frequency Distribution: In statistics, frequency distribution is a distribution and it is a table, g...

Q: 2. For 50 airplanes that arrived late at an airport during a week, the time by which they were late ...

A: Find the following values. Class(1) Frequency (f)(2) Mid value (x)(3) d=x-Ah=x-5020A=50,h=20(4) f...

Q: The average time that Italy commute to work is 23.15 minutes (Best 4 Tourist Places, June 15, 2020)....

A: Click to see the answer

Q: A light-bulb manufacturer advertises that the average life for its light bulbs is 900 hours. A rando...

A: State the hypotheses. That is, the average life of its light bulbs equals 900 hours. That is, the ...

Q: Topic: areas under normal curve

A: Note- As per our policy we can answer only the first 3 sub-parts of a question. If you want solution...

Q: If we have a sample of size 100 with sample mean breaking strength of 975 pounds from a population o...

A: Null hypothesis: µ=1000. Alternative hypothesis: µ<1000. Here, the sample mean, x-bar is 975. The...

Q: M:15)

A: Enter the given data in EXCEL sheet and create the variables x2 by squaring the value of x as shown ...

Q: A magazine published data on the best small firms in a certain year. These were firms that had been ...

A: Let X be the age of CEOs for top small firms. x¯ : Sample mean of age of CEOs for top small firms. s...

Q: Based on the following information, provide the appropriate answer. Assume alpha = 0.05. The yield o...

A: a) For the given sample, x¯=90.82, from the excel function, =AVERAGE(B18:B22) Population standard de...

Q: Kyle is entering high school and is determined to save money for college. Kyle feels he can save $5,...

A: Answer:- 

Q: Linear Regression Application, Interpolation and Extrapolation Use the data and story to answer th...

A: The data is given, x = Thousands of automatic weapons. y = Murders per 100,000 residents.  

Q: The GSS asked in 2006 “On the average day about how many hours do you personally watch television?” ...

A: From the given information, n=1254  mean=3.23   SD=1.87 Since, the sample size is more than 30 and i...

Q: A store reorders some type of chemical when the amount on-hand reaches 500 pounds. Average daily usa...

A: Given, ROP = demand during lead time + safety stock 500 = 60*7 + z *SD of demand during lead time  

Q: The tar content in  samples of cigar tobacco follows:   1.542 1.585 1.532 1.466 1.499 1.611 1.6...

A: From the provided information, Sample size (n) = 42 Sample mean (x̅) and sample standard deviation (...

Q: Individual actions can play a large role in the overall health of our planet. A researcher intereste...

A: Introduction: Denote μ1, μ2 as the true population mean number of times people with a pessimistic an...

Q: a) In a chi-square test, the “expected” counts are the values we expect if there is an association b...

A: a) In a chi-square test, the “expected” counts are the values we expect if there is an association b...

Q: A company produces steel rods. The lengths of the steel rods are normally distributed with a mean of...

A: Click to see the answer

Q: A survey is conducted to estimate the average age of students enrolled in a college. The population ...

A: Click to see the answer

Q: What type of variable is the number of absences?      Ratio     Ordinal     Nomina...

A: Number of absence is discrete variable which takes positive integer values. 

Q: State whether the standardized test statistic t indicates that you should reject the null hypothesis...

A: From the provided information, a) The test statistics t = 2.242 The critical value is 2.219. The nul...

Q: Use the fact that the mean of a geometric distribution is μ=1p and the variance is σ2=qp2.   A dail...

A: The given is, p=11000=0.001Mean =µ =1p=1000Variance =qp2=1-0.0010.0012=999000Standard deviation =var...

Q: In an effort to demonstrate that swearing can help reduce ratings of pain, a researcher asked partic...

A: H0:μd = 0 H1: μd≠0 ============================= t - value =3.913 P-value = 0.004  =================...

Q: If you obtained a test score of 78 on a test with your class's average test score is 70 and SD is 4,...

A: A z-score represents the position of a data point in terms of its distance from the mean when measur...

Q: Ch.6. "A carpet manufacturing company is comparing the tensile strengths of two different types of s...

A: Given that μA=75σA=8μB=75σB=12nA=16nB=9

Q: “The US Centers for Disease Control and Prevention said about 72 million Americans—nearly one out of...

A: There is some probability of Type I error in each hypothesis testing that is called test-wise alpha ...

Q: The probability that a patient recover from a rare blood disease is 0.4. If 15people are known to ha...

A: The provided information are: Probability of success (p) = 0.4 Number of trials (n) = 15

Q: pls answer it i really need help with all parts

A: Given that a clinical test on humans of a new drug is normally done in three phases.

Q: Let X and Y be independent random variables. Suppose X is of type X= 10, exponential with parameter ...

A: Given  X and Y are independent and follows exponential distribution with λ=10

Q: Suppose that X0, X1, X2, ... form a Markov chain on the state space {1, 2}. Assume that P(X0 = 1) = ...

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If y...

Q: x 1 2 3 4 5 6 y 709 711 780 798 753 817 Use linear regression to find the equation for the line...

A: From given data, X Y X*Y X*X 1 709 709 1 2 711 1422 4 3 780 2340 9 4 798 3192 16 5 753 ...