Statement of a problem № m40682


An issue that faces individuals investing for retirement is allocating assets among different investment choices. Suppose a study conducted 10 years ago showed that 65% of investors preferred stocks to real estate as an investment. In a recent random sample of 900 investors, 360 preferred real estate to stocks. Is this new data sufficient to allow you to conclude that the proportion of investors preferring stocks to real estate has declined from 10 years ago? Conduct your analysis at the α = 0.02 level of significance.

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