In 2013, Steve LeCompte, a stock market trader and analyst, did a study to see which TV personalities made the best predictions for future stock values. One person he looked at was Jim Cramer who is...

Extracted text: In 2013, Steve LeCompte, a stock market trader and analyst, did a study to see which TV personalities made the best predictions for future stock values. One person he looked at was Jim Cramer who is the host of Mad Money on CNBC. The study monitored Jim Cramer's 678 of Jim Cramer's stock predictions, such as if the value of a stock would increase or decrease, and found that 320 of his predictions were correct. Use a significance level of 0.05 and the P-value approach to test the claim: Jim Cramer is correct less than half the time. a) Check the requirements b) State the Hypotheses c) Find and analyze the test statistic d) State the decision e) State the conclusion