In a survey of 909 U.S.adults with children conducted by the financial Industry Regulatory Authority, 309 said that they had saved money for their children's college education. Can you conclude that more than 30% of U.S. adults with children have saved money for college? Use the a=0.05 level of significance.

Question
Asked Oct 27, 2019

In a survey of 909 U.S.adults with children conducted by the financial Industry Regulatory Authority, 309 said that they had saved money for their children's college education. Can you conclude that more than 30% of U.S. adults with children have saved money for college? Use the a=0.05 level of significance.

check_circleExpert Solution
Step 1

The hypotheses for the test is given below.

Null hypothesis:

H0: p = 0.30

Alternative hypothesis:

H1: p > 0.30

Step 2

The test statistic is obt...

р-Р
P(1-Р)
п
309
-0.30
909
:P =-,x = 309,n = 909
0.30(1-0.30
п
909
=2.63
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р-Р P(1-Р) п 309 -0.30 909 :P =-,x = 309,n = 909 0.30(1-0.30 п 909 =2.63

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