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Is there any difference between the proportion of americans who wish they were rich and the proportion of canadians who wish they were rich? A random sample of 1,000 americans showed that 550 wish they were rich, while a ranndom sample of 500 canadians showed that 225 wish they were rich.
A. Test, at the 1% level of significance, whether the two population proportions are significantly different. Formulate and test the appropriate hypotheses. Use the critical value approach.
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