A financial adviser, who works for an online trading platform, is interested in testing the claim that more than \( 48 \% \) of investors have dividend interest earning stocks. To test this claim, the financial adviser collects the following data on a sample of 370 investors and 193 of them have dividend interest earning stocks. The following is the data from this study:
- Sample size \( =370 \) investors
- The alternative hypothesis is \( H_{a}: p>0.48 \)
- The test statistic is calculated as \( z_{0}=1.60 \).
Find and interpret the \( p \) - value for this hypothesis test.
Use the curve below to help visualize your answer. Select the appropriate test by dragging the blue point to a right-, left- or two-tailed diagram, then set the test statistic on the \( x \)-axis to find the \( p \)-value.
Based on the p-value, choose the correct interpretation.