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Critical value approach to test the hypothesis

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Reference no: EM132164455

Ten years ago, 53% of American families owned stocks or stock funds. A sample of 300 observations collected by the Investment Company Institute indicate that the percentage is now 46% (The Wall Street Journal, October 5, 2012).

Use the critical value approach to test the hypothesis at the 1% significance level. Show the five steps.

Reference no: EM132164455

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