Confidence in banks: A news poll conducted in 2012 asked a random sample of 1220 adults in the United States how much confidence they had in banks and other financial institutions. A total of 156 adults said that they had a great deal of confidence. An economist claims that greater than $$ 12 \% $$ of U.S. adults have a great deal of confidence In banks. Can you conclude that the economist's claim is true? Use both $$ \alpha=0.10 $$ and $$ \alpha=0.01 $$ levels of significance and the critical value method with the table. Part: $$ 0 / 5 $$ Part 1 of 5 State the appropriate null and alternate hypotheses. $$ H_{0}: p=0.12 $$ $$ H_{1}: p0.12 $$ This hypothesis test is a right-tailed. Part: $$ 1 / 5 $$ test. Part 2 of 5 Find the critical values. Round the answer to three decimal places. For $$ \alpha=0.10 $$, the critical value is $$ \square $$ For $$ \alpha=0.01 $$, the critical value is

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Confidence in banks: A news poll conducted in 2012 asked a random sample of 1220 adults in the United States how much confidence they had in banks and other financial institutions. A total of 156 adults said that they had a great deal of confidence. An economist claims that greater than $$ 12 \% $$ of U.S. adults have a great deal of confidence In banks. Can you conclude that the economist's claim is true? Use both $$ \alpha=0.10 $$ and $$ \alpha=0.01 $$ levels of significance and the critical value method with the table. Part: $$ 0 / 5 $$ Part 1 of 5 State the appropriate null and alternate hypotheses. $$ H_{0}: p=0.12 $$ $$ H_{1}: p>0.12 $$ This hypothesis test is a right-tailed. Part: $$ 1 / 5 $$ test. Part 2 of 5 Find the critical values. Round the answer to three decimal places. For $$ \alpha=0.10 $$, the critical value is $$ \square $$ For $$ \alpha=0.01 $$, the critical value is

UpStudy AI · Accepted Answer

We begin with the null and alternative hypotheses:

H₀: p = 0.12  
  H₁: p > 0.12

Since the economist claims a greater proportion than 12%, this test is right-tailed.

Now, for the critical values:

1. For α = 0.10:  
  The critical z-value (right-tail) is approximately 1.282 (rounded to three decimals: 1.282).

2. For α = 0.01:  
  The critical z-value (right-tail) is approximately 2.326 (rounded to three decimals: 2.326).

Thus, the critical values are:  
  For α = 0.10, critical value = 1.282  
  For α = 0.01, critical value = 2.326
For α = 0.10, the critical value is 1.282. For α = 0.01, the critical value is 2.326.

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