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It has been suggested that no more than a quarter

It has been suggested that no more than a quarter of Americans who invest in stocks have even a basic knowledge of investing. To investigate, Money Magazine and the Vanguard Group conducted a study in which 1555 investors were selected from across the United States and given a simple quiz on investing (source: ifa.com). If 423 of the investors who took the quiz received a passing score, would this be sufficient sample evidence to reject a null hypothesis that no more than 25% of the population of all investors would receive a passing score on the quiz? Use a significance level of 5%.

a. Show the null and alternative hypotheses.

b. Based on the sample result, should you reject the null hypothesis? Explain.

a. Show the null and alternative hypotheses.

b. Based on the sample result, should you reject the null hypothesis? Explain.

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