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1 Use a .05 level of significance and test for independence of the quality of management and the reputation of the company. Use Table 12.4. Compute the value of the X 2 test statistic (to 2 decimals). 2 The p-value is Select your answer - What is your conclusion? - Select your answer - -If there is a dependence or association between the two ratings, discuss and use probabilities to justify your answer. - Select your answer-

1 Use a .05 level of significance and test for independence of the quality of management and the reputation of the company. Use Table 12.4. Compute the value of the X 2 test statistic (to 2 decimals). 2 The p-value is Select your answer - What is your conclusion? - Select your answer - -If there is a dependence or association between the two ratings, discuss and use probabilities to justify your answer. - Select your answer-

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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**The Wall Street Journal** Corporate Perceptions Study 2011 surveyed readers and asked how each rated the Quality of Management and the Reputation of the Company for over 250 worldwide corporations. Both the Quality of Management and the Reputation of the Company were rated on an Excellent, Good, and Fair categorical scale. Assume the sample data for 200 respondents below applies to this study. | Quality of Management | Reputation of Company | |------------------------|------------------------| | | Excellent | Good | Fair | | Excellent | 40 | 25 | 5 | | Good | 35 | 35 | 10 | | Fair | 25 | 10 | 15 | - Use a 0.05 level of significance and test for independence of the quality of management and the reputation of the company. Use Table 12.4. - Compute the value of the \( \chi^2 \) test statistic (to 2 decimals). \( \chi^2 \): [Input Box] The \( p \)-value is: [Dropdown Selection] What is your conclusion? [Dropdown Selection] If there is a dependence or association between the two ratings, discuss and use probabilities to justify your answer. [Dropdown Selection] **Check My Work**
Transcribed Image Text:**The Wall Street Journal** Corporate Perceptions Study 2011 surveyed readers and asked how each rated the Quality of Management and the Reputation of the Company for over 250 worldwide corporations. Both the Quality of Management and the Reputation of the Company were rated on an Excellent, Good, and Fair categorical scale. Assume the sample data for 200 respondents below applies to this study. | Quality of Management | Reputation of Company | |------------------------|------------------------| | | Excellent | Good | Fair | | Excellent | 40 | 25 | 5 | | Good | 35 | 35 | 10 | | Fair | 25 | 10 | 15 | - Use a 0.05 level of significance and test for independence of the quality of management and the reputation of the company. Use Table 12.4. - Compute the value of the \( \chi^2 \) test statistic (to 2 decimals). \( \chi^2 \): [Input Box] The \( p \)-value is: [Dropdown Selection] What is your conclusion? [Dropdown Selection] If there is a dependence or association between the two ratings, discuss and use probabilities to justify your answer. [Dropdown Selection] **Check My Work**
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