An issue that faces individuals investing for retirement is allocation assets among different investment choices. Suppose a study conducted 10 years ago showed that 65% of investors preferred stocks to real estate as an investment. In a recent random sample of 900 investors, 540 preferred real estate to stocks. Is this new data sufficient to allow you to conclude that the proportion of investors preferring stocks to real estate has declined from 10 years ago? Conduct your analysis at the .02 level of significance
a) Because z= -1.915 is not less than -2.055, do not reject H0. A lower proportion of investors prefer stocks today than 10 years ago
b) Because 1= -3.145 is less than -2.055, reject H0. A lower proprtion of investors prefer stocks today than 10 years ago
c) Because 1= -3.145 is less than -2.055 reject H0. A higher proprtion of investors prefer stocks today than 10 years ago
d) Because 1= -3.145 is not less than -2.055, do not reject H0. A higher proportion of investors prefer stocks today than 10 years ago