Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions)

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Suppose That The Proportion Of Investors Who Are Risk Averse That Is Try To Avoid Risk In Their Investment Decisions 1 (47.87 KiB) Viewed 32 times

Suppose that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is though to be at least 0.7. A financial advisor believes that the proportion is actually less than 0.7. A survey of 35 investors found that 23 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. Determine the null hypothesis, Ho, and the alterative hypothesis, H. Hy 0.71 HY: 10.7 (Type integers or decimals. Do not round.) Compute the test statistic, (Round to two decimal places as needed.) Find the p-value for the test. (Round to three decimal places as needed.) State the conclusion at the 0.05 level of significance. The p-value is the chosen value of a, so the null hypothesis. There is evidence to conclude that the proportion of investors who are risk-averse is not at least 0.7. Etext pages Tech help Ask my instructor Time Remaining: 00:44:17 Submit test