Question

Question 10of 12 Step 8 of 10 00:09 16 A manager for an insurance company beleves that customers have th 30 % prefer Universal Life, and 50 % sales manager's cdaimed proportions of customers who prefer each product using the data? e following preferences tor fe insurar ce products 20 %prefer week. prefer Life Annuities The results or a survey of 271 customers were tabulated. possble to refute the Product Number Whole 134 Universal11 Arnnuities 26 Copy Data Step 8 of 10: Find the critikal value of the test at the 0.025 level of significance. Round your answer to three decimal places Answerow to Ener 2 Points i KeypadmTables

Answer 1

Significance level0.025 Degrees of freedom , df -k-1 2 02s has area of 0.025 to its right. To find X02s, open any Chi-square table, go across from row df-2 and doun from column 0.025 and get 7.378 Critical value: X0.025-7.378 Decision Rule: Reject H0 if χ2 > 7.378 We can also use excel to find exact value CHISQ. INV.RT (0.025,2)-7.37775890822787 Thank yous