FullestHarp43
New member
- Joined
- Mar 19, 2021
- Messages
- 3
My work so far is attached. Still not sure if part a is correct, how to do part b, and what the third assumption is. Can you help?
Question:
1) It is estimated that 17.4% of all US households own a Roth IRA. The American Association of University Professors (AAUP) believes this figure is different among their members and commissions a study.
a) If 150 out of a random sample of 750 AAUP members own Roth IRA’s, is this sufficient evidence to support the AAUP belief at the α=0.05 level? (You must run a hypothesis test)
b) Based on your results from (a), if an error was made, would it be type I or type II error? Explain the error you chose in the context of the question.
Question:
1) It is estimated that 17.4% of all US households own a Roth IRA. The American Association of University Professors (AAUP) believes this figure is different among their members and commissions a study.
a) If 150 out of a random sample of 750 AAUP members own Roth IRA’s, is this sufficient evidence to support the AAUP belief at the α=0.05 level? (You must run a hypothesis test)
b) Based on your results from (a), if an error was made, would it be type I or type II error? Explain the error you chose in the context of the question.
