Question

A financial advisor believes that the proportion of investors who are risk-averse (that is, try to avoid risk in their investment decisions) is at least 0.6. A survey of 30 investors found that 18 of them were risk-averse. Formulate a one-sample hypothesis test for a proportion to test this belief. Is there sufficient evidence at the 0.05 level of significance that the proportion of investors who are risk-averse is at least 0.6? Determine the null hypothesis, Ho, and the alternative hypothesis, H, Ho O (Type integers or decimals. Do not round.) Compute the test statistic. (Round to two decimal places as needed.) Find the p-value for the test. (Round to three decimal places as needed.) State the conclusion The p-value is the chosen value of a, so the null hypothesis. There is evidence to conclude that the proportion of investors who are risk-averse is at least 0.6.