KASE of 3, Step 8 of 10 PROBLEM fer whole Life, 40% prefer Universal Life, and 3
ID: 3338842 • Letter: K
Question
KASE of 3, Step 8 of 10 PROBLEM fer whole Life, 40% prefer Universal Life, and 30% prefer Life Annuities. The results of a survey of 291 customers were tabulated. 1s the sales manager's claim refuted by the data at alpha 0.12 Number Product Whole Universal CRITICAL VALUE Enter the critical value of the test statistic. Clck here for perevious step answers Answer (Round your answer to 3 decimals)Explanation / Answer
Given table data is as below col1 col2 row 1 35 87.3 122.3 row 2 99 116.4 215.4 row 3 157 87.3 244.3 TOTALS 291 291 N = 582 ------------------------------------------------------------------ calculation formula for E table matrix E-TABLE col1 col2 row 1 row1*col1/N row1*col2/N row 2 row2*col1/N row2*col2/N row 3 row3*col1/N row3*col2/N ------------------------------------------------------------------ expected frequecies calculated by applying E - table matrix formulae E-TABLE col1 col2 row 1 61.15 61.15 row 2 107.7 107.7 row 3 122.15 122.15 ------------------------------------------------------------------ calculate chisquare test statistic using given observed frequencies, calculated expected frequencies from above Oi Ei Oi-Ei (Oi-Ei)^2 (Oi-Ei)^2/Ei 35 61.15 -26.15 683.823 11.183 87.3 61.15 26.15 683.823 11.183 99 107.7 -8.7 75.69 0.703 116.4 107.7 8.7 75.69 0.703 157 122.15 34.85 1214.523 9.943 87.3 122.15 -34.85 1214.523 9.943 ^2 o = 43.658 ------------------------------------------------------------------ set up null vs alternative as null, Ho: no relation b/w X and Y OR X and Y are independent alternative, H1: exists a relation b/w X and Y OR X and Y are dependent level of significance, = 0.1 from standard normal table, chi square value at right tailed, ^2 /2 =4.605 since our test is right tailed,reject Ho when ^2 o > 4.605 we use test statistic ^2 o = (Oi-Ei)^2/Ei from the table , ^2 o = 43.658 critical value the value of |^2 | at los 0.1 with d.f (r-1)(c-1)= ( 3 -1 ) * ( 2 - 1 ) = 2 * 1 = 2 is 4.605 we got | ^2| =43.658 & | ^2 | =4.605 make decision hence value of | ^2 o | > | ^2 | and here we reject Ho ^2 p_value =0 ANSWERS --------------- null, Ho: no relation b/w X and Y OR X and Y are independent alternative, H1: exists a relation b/w X and Y OR X and Y are dependent test statistic: 43.658 critical value: 4.605 p-value:0 decision: reject Ho
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