In a random sample of 16 exchange rate analysts, 8 believed that the Japanese yen would be an excellent investment this year, 5 believed that it would be a poor investment, and 3 had no strong opinion on the question. What conclusions can be drawn from data? Of a random sample of 100 college students, 35 expected to achieve a higher standard of living than their parents, 43 expected a lower standard of living, and 22 expected about the same standard of living as their parents. Do these data present strong evidence that, for the population of students, more expect a lower standard of living compared with their parents than expect a higher standard of living?
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