The CEO of a large financial institution claims that, on average, their clients invest more than R75 000 per year in a particular portfolio. Test this claim at the 1% significance level if it was found that a sample of 19 clients invested an average of R74 000 in the portfolio over the last year, with a standard deviation of R7 000.

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Q: The CEO of a large financial institution claims that, on average, their clients invest more than R45…

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Q: The CEO of a large financial institution claims that, on average, their clients invest more than R95…

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A: we have to use z table to solve.

2-Proportion Test

In a 2-proportion test, two separate proportions are measured at the same time, and their similarity is evaluated. It is also known as a 2-proportion z-test, and a comparison of two different proportions is done in this method.