Question

To determine if Canadians are worried about their investments in the current global climate, a random sample n₁ = 302 individuals under the age of 50 years old and a random sample of n₂ = 304 individuals over the age of 50 years old were obtained. In the "young" age group (under 50 years old), X1=96 of the participants indicated they were worried about their investments, while in the "old" age group (over 50 years old), X2=114 of the participants indicated they were worried about their investments.

a) Suppose investors are interested in determining if the proportion of "young" individuals worried about their investments is less than the proportion of "old" individuals that are worried about their investments. What would be the appropriate null and alternative hypotheses for this research question? Select ONE of the following options:

		H0:p1^=p2^vs.Ha:p1^≠p2^
		H0:p1=p2vs.Ha:p1<p2
		H0:p1=p2vs.Ha:p1≠p2
		H0:p1^=p2^vs.Ha:p1^<p2^

b)  Calculate the value of the test statistic.

Round your response to at least 3 decimal places.

    

c) Consider the following conclusions that can be made. Which ONE is the most appropriate based on your results?

		There is very strong evidence against the null hypothesis at the 5% level of significance.
		There is some evidence against the null hypothesis at the 5% level of significance, but this evidence is not very strong.
		There is absolutely no evidence against the null hypothesis at the 5% level of significance.

Answer 1