Discuss the below:
Q: A study by the Investment Company Institution (ICI) in 2004, which randomly surveyed 3,500 households and drew upon information from the IRS. If found that 72% of households have conducted at least one IRA rollover from a an employer sponsored retirement plan. Suppose a recent random sample of 90 households in the greater Detroit area was taken and they were asked whether they had ever funded an IRA account with a rollover from an employer sponsored retirement plan. The results are in the attached file. Based on this sample data, can you conclude at the 0.10 level of significance that the proportion of households in the greater Detroit area that have funded an IRA with a rollover is different from the proportion for all households reported in the ICI Study? A random sample of 90 households in the greater Detroit area. Respondents were asked whether they had ever funded an IRA with a rollover from an employer-sponsored retirement plan.
| Household |
Rollover |
| 1 |
Yes |
| 2 |
Yes |
| 3 |
Yes |
| 4 |
Yes |
| 5 |
Yes |
| 6 |
Yes |
| 7 |
Yes |
| 8 |
Yes |
| 9 |
Yes |
| 10 |
Yes |
| 11 |
Yes |
| 12 |
No |
| 13 |
Yes |
| 14 |
Yes |
| 15 |
Yes |
| 16 |
Yes |
| 17 |
Yes |
| 18 |
No |
| 19 |
Yes |
| 20 |
No |
| 21 |
No |
| 22 |
Yes |
| 23 |
Yes |
| 24 |
Yes |
| 25 |
No |
| 26 |
Yes |
| 27 |
Yes |
| 28 |
Yes |
| 29 |
Yes |
| 30 |
No |
| 31 |
Yes |
| 32 |
No |
| 33 |
Yes |
| 34 |
No |
| 35 |
No |
| 36 |
No |
| 37 |
Yes |
| 38 |
Yes |
| 39 |
Yes |
| 40 |
Yes |
| 41 |
Yes |
| 42 |
Yes |
| 43 |
Yes |
| 44 |
Yes |
| 45 |
Yes |
| 46 |
Yes |
| 47 |
Yes |
| 48 |
Yes |
| 49 |
No |
| 50 |
No |
| 51 |
Yes |
| 52 |
Yes |
| 53 |
Yes |
| 54 |
Yes |
| 55 |
Yes |
| 56 |
Yes |
| 57 |
Yes |
| 58 |
No |
| 59 |
No |
| 60 |
Yes |
| 61 |
Yes |
| 62 |
Yes |
| 63 |
Yes |
| 64 |
No |
| 65 |
Yes |
| 66 |
Yes |
| 67 |
Yes |
| 68 |
Yes |
| 69 |
Yes |
| 70 |
Yes |
| 71 |
No |
| 72 |
Yes |
| 73 |
No |
| 74 |
Yes |
| 75 |
Yes |
| 76 |
No |
| 77 |
Yes |
| 78 |
No |
| 79 |
Yes |
| 80 |
Yes |
| 81 |
No |
| 82 |
Yes |
| 83 |
Yes |
| 84 |
No |
| 85 |
Yes |
| 86 |
Yes |
| 87 |
No |
| 88 |
No |
| 89 |
Yes |
| 90 |
Yes |