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Question

A research firm claims that $62 \%$ of women in the 40-49 age group save in a $401(\mathrm{k})$ or individual retirement account. If we wished to test whether this percentage could be the same for women in this age group living in New York City and selected a random sample of 300 such individuals from New York, what would be the null and alternative hypotheses? Would the test be a $z$-test or a $t$-test? Why?

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Answered 1 year ago

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1 of 3The given problem claims that $62\%$ of women in the age group from $40$ to $49$ age save in a $401$(k) or individual retirement account. First, we can notice that it is given the percentage values which represent the population proportion.

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