A global survey found that 30% of people have invested in cryptocurrencies. A recent survey of 500 UAE residents showed that 172 said they have invested in cryptocurrencies. At 5% significance level, do these data provide sufficient evidence that the inclination to invest in cryptocurrencies in UAE is higher than the global level? State the hypotheses, compute the test statistic (Round to two decimal places), find the p-value (Round to three decimal places) and state the conclusion.
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The test statistic is = 172/500 = 3.92 and the p-value is 0.000. Show more…
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