In 2018, RAND Corporation researchers found that
71%
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
H_(0)=11
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
age group.
H_(0):p
◻
H_(a):p
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- Select your anvwer -
b. In a random sample of 300 people from the 66 - 69 age growp who did not complete high school, 165 were not prepared finangially for retirement. What is the p-value for pold hypothesis test (to 4 decimals)? if your answer is zero, enter "0".
◻
e. At
\alpha =0.01
, what is your conclusion?
We
◻
- Select pewr enswer * * that the percentage of
66-69
year ald indivisuis who are adequately prepared financially for retirement is amather for those mhe ad not complete nigh school.