Question

The nationwide percentage of Americans who invest in the stock market is usually taken to be 55%. Is this percentage differentin the state of Ohio? A random sample of 200 Ohio residents were sampled and asked whether they invest in the stock market. 57.3% (or 0.573 as a decimal) responded that they do invest in the stock market.  Here, the parameter of interest is , the proportion of Ohioans who invest in the stock market, and we are testing H₀:  = 0.55 versus the alternative H_a:  0.55.  

What is the p-value for this two-tailed test?

1. Less than 0.05.
2. Between 0.05 and 0.10.
3. Between 0.10 and 0.25.
4. Between 0.25 and 0.50.
5. Greater than 0.50.

The nationwide percentage of Americans who invest in the stock market is usually taken to be 55%. Is this percentage differentin the state of Ohio? A random sample of 750 Ohio residents were sampled and asked whether they invest in the stock market. 57.3% (or 0.573 as a decimal) responded that they do invest in the stock market.  Here, the parameter of interest is , the proportion of Ohioans who invest in the stock market, and we are testing H₀:  = 0.55 versus the alternative H_a:  0.55.  

What is the p-value for this two-tailed test?

1. Less than 0.05.
2. Between 0.05 and 0.10.
3. Between 0.10 and 0.25.
4. Between 0.25 and 0.50.
5. Greater than 0.50.

Each of the last three questions is identical except for the sample size (76, 200, and 750). What conclusion can we make regarding the results of these tests?

1. For otherwise identical results, a larger sample size makes it easier to reject the null hypothesis.
2. For otherwise identical results, a larger sample size makes it easier to reject the null hypothesis.
3. For otherwise identical results, a larger sample size makes it easier to obtain a large p-value.
4. The sample size has no effect on the result of a hypothesis test.

Answer 1