Question 18 Sum of col Column Labels Yes No Grand Total 80.00%28.57% 20.00%71.43

Question

Question 18 Sum of col Column Labels Yes No Grand Total 80.00%28.57% 20.00%71.43% 100.00% 100.00% 42.11% 57.89% 100.00% Two variables were looked for an association for Wells Fargo customers. Do you have a savings account? (Yes or No) compared to "Savings accounts at Wells Fargo offer a competitive interest rate" (True vs. False) Which of the following is TRUE about the table above? OThis is an example of a row percent 28.57% of people who said False, do not have a savings account. 20% of people who do not have savings accounts, said TRUE to having a competitive rate. 80% of people who said TRUE, have savings accounts.

Explanation / Answer

Solution

Q18

Before answering the question, it is necessary to study the table carefully and in detail.

Note that the column totals add to 100%, but row totals do not add to 100%.

Bearing the above in mind, the figures in the table are to be interpreted as below:

1). 80% of people who responded ‘true’ have savings account.   

2). 20% of people who responded ‘true’ do not have savings account.

3). 28.57% of people who responded ‘false’ have savings account.   

2). 71.43% of people who responded ‘false’ do not have savings account.

Comparing the above interpretations with the given options. We see that only the last option is correct. ANSWER

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