Ten years ago 53% of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicates that the percentage is now 46% (The Wall Street Journal, October 5, 2012). 

a. Develop appropriate hypotheses such that rejection of H0 will support the conclusion that a smaller proportion of American families own stocks or stock funds in 2012 than ten years ago. H0: Ha: 

b. Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds was 46% in 2012. What is the p-value for your hypothesis test (to 4 decimals)? 

c. At =.01, what is your conclusion?

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