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Hypothesis Test for a Population Proportion
A well-known brokerage firm executive claimed that $10 %$ of investors are their investment goals. An XYZ Investor Optimism Survey, conducted over a a sample of 700 people, $16 %$ of them said they are confident of meeting the
Test the claim that the proportion of people who are confident is larger than level.
The null and alternative hypothesis would be:
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Step 3: Determine the critical value and make a decision about the hypothesis

Steps

Step 1 ：Step 1: Define the null and alternative hypothesis: $H_{0} : p = 0.1$ and $H_{a} : p > 0.1$

Step 2 ：Step 2: Calculate the test statistic: $z = \frac{p ̂ - p_{0}}{\sqrt{\frac{p_{0} (1 - p_{0})}{n}}}$

Step 3 ：Step 3: Determine the critical value and make a decision about the hypothesis