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A certain large asset management company is thought to have a high value client base of 35%. High value clients are those with a portfolio which is worth more than a certain benchmark amount. The new CEO of this company believes that the proportion of high value clients has significantly changed in recent years and sets out to prove his theory. He finds that only 320 of a thousand client portfolios are high value. Is there enough statistical evidence to conclude that the proportion of high value clients has decreased? The test statistic value for this test (correct to 2 decimal places) is and the p-value (correct to 2 decimal

A certain large asset management company is thought to have a high value client base of 35%. High value clients are those with a portfolio which is worth more than a certain benchmark amount. The new CEO of this company believes that the proportion of high value clients has significantly changed in recent years and sets out to prove his theory. He finds that only 320 of a thousand client portfolios are high value. Is there enough statistical evidence to conclude that the proportion of high value clients has decreased? The test statistic value for this test (correct to 2 decimal places) is and the p-value (correct to 2 decimal

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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A certain large asset management company is thought to have a high value client base of 35%. High value dlients are those with a portfolio which is worth more than a certain benchmark amount. The new CEO of this company believes that the proportion of high value clients has significantly changed in recent years and sets out to prove his theory. He finds that only 320 of a thousand client portfolios are high value. Is there enough statistical evidence to conclude that the proportion of high value clients has decreased? The test statistic value for this test (correct to 2 decimal places) is and the p-value (correct to 2 decimal places) is
Transcribed Image Text:A certain large asset management company is thought to have a high value client base of 35%. High value dlients are those with a portfolio which is worth more than a certain benchmark amount. The new CEO of this company believes that the proportion of high value clients has significantly changed in recent years and sets out to prove his theory. He finds that only 320 of a thousand client portfolios are high value. Is there enough statistical evidence to conclude that the proportion of high value clients has decreased? The test statistic value for this test (correct to 2 decimal places) is and the p-value (correct to 2 decimal places) is
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