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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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  1. 10 January, 08:54
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    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.
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