Question #1: In February 2008, an organization surveyed 1040 adults aged 18 or older and found that 541 believed they would not have enough money to live comfortably in retirement. Does the sample evidence suggest that the majority of adults believe they will have enough money in retirement?
- At the .05 level of significance, does the sample evidence suggest that the majority of adults believe they will have enough money to live comfortably in retirement? Use the classical approach.
- Based on your results of the hypothesis test-the decision you made in part a, what type of error might have occurred? Please explain.