of In February 2008, the Gallup organization surveyed 1,034 adults between 30 and 64 years age...

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of In February 2008, the Gallup organization surveyed 1,034 adults between 30 and 64 years age and found that 548 were worried that they will outlive their money after they retire. Does the sample evidence suggest that a majority of 30- to 64-year-olds in the United States are worried they will outlive their money? Use the a = 0.05 level of significance: (a) Regarding a population proportion, what condition must be provided? (b) Determine the alternative hypothesis if the null hypothesis is p = 0.5. (c) Show the critical value approach. (d) Show the P-value approach. (e) Decide whether you reject the null hypothesis or not. Then state the conclusion. of In February 2008, the Gallup organization surveyed 1,034 adults between 30 and 64 years age and found that 548 were worried that they will outlive their money after they retire. Does the sample evidence suggest that a majority of 30- to 64-year-olds in the United States are worried they will outlive their money? Use the a = 0.05 level of significance: (a) Regarding a population proportion, what condition must be provided? (b) Determine the alternative hypothesis if the null hypothesis is p = 0.5. (c) Show the critical value approach. (d) Show the P-value approach. (e) Decide whether you reject the null hypothesis or not. Then state the conclusion.

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a In order for a population percentage to be valid the normal approximation requires that the sample data have a binomial distribution and a large eno... View the full answer