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 (46.05 KiB) Viewed 76 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 36 investors found that 24 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 alternative hypothesis, H₁. Ho: π ≥ 0.7 H₁: π < 0.7 (Type integers or decimals. Do not round.) Compute the test statistic. (Round to two decimal places as needed.) C