A survey was taken on how a lump-sum pension would be invested by 45-year-olds and 65-year-olds. The
Question:
Follow these steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use the traditional method of hypothesis testing unless otherwise specified.
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