According to a survey, half of U.S. households have no emergency savings (The Wall Street Journal, April
Question:
According to a survey, half of U.S. households have no emergency savings (The Wall Street Journal, April 16, 2020). An analyst in the Midwest collects data on 200 households and finds that 84 of them have no emergency savings.
a. The analyst believes that the proportion of Midwestern households with no emergency savins is not representative of the national proportion. Specify the competing hypotheses to test the analyst’s claim.
b. Calculate the value of the test statistic and the p-value.
c. At the 1% significance level, do the sample data support the analyst’s claim?
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Rustia Melrod
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Business Statistics Communicating With Numbers
ISBN: 9781260716306
4th Edition
Authors: Sanjiv Jaggia, Alison Kelly
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