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An issue that faces individuals investing for retirement is allocating assets among different investment choices. A study conducted 10 years ago showed that 65% of investors preferred stocks to real estate as an investment. In a recent random sample of 900 investors, 540 preferred stocks to real estate. Is this new data sufficient to allow you to conclude that the proportion of investors preferring stocks to real estate has declined from 10 years ago? Conduct your analysis at the 2% significance level.

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