The statistical software output for this problem is:
Chi-Square goodness-of-fit results:
Observed: Oi
Expected: Ei
N | DF | Chi-Square | P-value |
---|---|---|---|
220 | 2 | 3.6666667 | 0.1599 |
Observed | Expected |
---|---|
55 | 66 |
77 | 66 |
88 | 88 |
Hence,
Test statistic = 3.667
for life insurance products: 30 % prefer whole Life, 30 % prefer Universal 77 Annuities 88...
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