A financial planner believes that the percentage of people who have saved nothin

Question

A financial planner believes that the percentage of people who have saved nothing for their child's college education is on the rise. In 2012, the College Savings Foundation reported that 43% of parents had not saved for their child's future college expenses. In a recent survey of 800 randomly selected parents nationwide, 368 had saved nothing for their child's future college expenses. Is there evidence that the financial planner's belief is correct? Write the appropriate alternative hypothesis for the test. a) H_A: mu_1 - mu_2 > 0 b) H_A: mu - 368 c) H_A: p_1 - p_2 > 0 d) H_A: p > 0.43 e) None of the above A manufacturer of balloons claims that p, the proportion of its balloons that burst when inflated to a diameter of up to 12 inches, is 0.05. Some customers have complained that the balloons are bursting more frequently. If the customers want to conduct an experiment to test the manufacturer's claim, which of the following hypotheses would be appropriate? (A) H_0: p notequalto 0.005, H_a: p = 0.05 (B) H_0: p = 0.05, H_a: p > 0.05 (C) H_0: p = 0.05, H_a: p notequalto 0.05 (D) H_0: P = 0.05, H_a: p

Explanation / Answer

It is a one population proportion test.

Null Hypothesis

H0: p= 0.43 (no change)

Research Hypothesis

H1: > 0.43 (investigator's belief)

Null Hypothesis

H0: p= 0.43 (no change)

Research Hypothesis

H1: > 0.43 (investigator's belief)

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