Try Magic Notes and save time.Try it free
Try Magic Notes and save timeCrush your year with the magic of personalized studying.Try it free
Question

A research firm claims that 62%62 \% of women in the 40-49 age group save in a 401(k)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 zz-test or a tt-test? Why?

Solution

Verified
Answered 1 year ago
Answered 1 year ago
Step 1
1 of 3

The given problem claims that 62%62\% of women in the age group from 4040 to 4949 age save in a 401401(k) or individual retirement account. First, we can notice that it is given the percentage values which represent the population proportion.

Create an account to view solutions

Create an account to view solutions

Recommended textbook solutions

Business Statistics: Communicating with Numbers 2nd Edition by Alison Kelly, Sanjiv Jaggia

Business Statistics: Communicating with Numbers

2nd EditionISBN: 9780078020551Alison Kelly, Sanjiv Jaggia
1,238 solutions
Basic Business Statistics: Concepts and Applications 12th Edition by David M. Levine, Mark L. Berenson, Timothy C. Krehbiel

Basic Business Statistics: Concepts and Applications

12th EditionISBN: 9780132168380 (15 more)David M. Levine, Mark L. Berenson, Timothy C. Krehbiel
1,266 solutions
Basic Business Statistics: Concepts and Applications 13th Edition by David M. Levine, Kathryn A. Szabat, Mark L. Berenson

Basic Business Statistics: Concepts and Applications

13th EditionISBN: 9780321870025 (2 more)David M. Levine, Kathryn A. Szabat, Mark L. Berenson
1,245 solutions
Introduction to Business Statistics 7th Edition by Ronald M. Weiers

Introduction to Business Statistics

7th EditionISBN: 9781111792374Ronald M. Weiers
2,062 solutions

More related questions

1/4

1/7