Question: Beginning in the second half of 2011 there were widespread
Beginning in the second half of 2011, there were widespread protests in many American cities that were primarily against Wall Street corruption and the increasing gap between the rich and the poor in America. According to a Time Magazine/ABT SRBI poll conducted by telephone during October 9–10, 2011, 86% of adults who were familiar with those protests agreed that Wall Street and lobbyists have too much influence in Washington (The New York Times, October 22, 2011). Assume that 86% of all American adults in 2011 believed that Wall Street and lobbyists have too much influence in Washington. A recent random sample of 2000 American adults showed that 1780 of them believe that Wall Street and lobbyists have too much influence in Washington. Using a 5% significance level, perform a test of hypothesis to determine whether the current percentage of American adults who believe that Wall Street and lobbyists have too much influence in Washington is higher than 86%. Use both the p-value and the critical-value approaches.
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