At a financial services company, the mean percent allocation for bonds in a retirement portfolio is 26.9 percent with a population standard deviation of 3.6 percent. A random sample of 35 retirement plan participants was taken and the probability that the mean bond percent for the sample will be at least 28 percent was determined. Was the probability a Left-tail, Right - tail or Interval Probability

Question

Mathematics

Cade Walter

10 January, 07:43

At a financial services company, the mean percent allocation for bonds in a retirement portfolio is 26.9 percent with a population standard deviation of 3.6 percent. A random sample of 35 retirement plan participants was taken and the probability that the mean bond percent for the sample will be at least 28 percent was determined. Was the probability a Left-tail, Right - tail or Interval Probability

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Ean Sanford · Answer 1

Answer: it is a right tailed probability

Step-by-step explanation:

Population proportion = 26.9/100 = 0.269

We are dealing with the fact that the probability that the mean bond percent for the sample will be at least 28. This means that the sample proportion is 0.28 or above. This means that it is greater than the population proportion of 0.269

The hypothesis would be

For null hypothesis

p = 0.269

For alternative hypothesis,

p > 0.269

The inequality sign means that it is right tailed.