A well-known brokerage firm executive claimed that 30% 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, 25% of them said they are confident of meeting their goals.
Solution :
This is the left tailed test .
The null and alternative hypothesis is
H0 : p 0.30
Ha : p < 0.30
= 0.25
Test statistic = z
= - P0 / [P0 * (1 - P0 ) / n]
= 0.25 - 0.30 / [(0.30 * 0.70) / 800]
= -3.086
P-value = 0.0010
= 0.10
P-value <
Reject the null hypothesis .
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