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With the rise of stock market, an investment advisor believes that the percentage of investors who...

With the rise of stock market, an investment advisor believes that the percentage of investors who are risk–taking (i.e., trying to take risk in their investment decisions) is greater than 80%. A survey of 115 investors found that 95 of them were risk-taking. Formulate and test the appropriate hypotheses to determine whether his belief can be confirmed (significance level of 5%).

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