A manager for an insurance company believes that customers have the following preferences for life insurance products: 10% prefer Whole Life, 40% prefer Universal Life, and 50% prefer Life Annuities. The results of a survey of 351 customers were tabulated. Is it possible to refute the sales manager's claimed proportions of customers who prefer each product using the data?Product NumberWhole 189Universal 116Annuities 46f) Find the value of the test statistic. Round your answer to three decimal places.i) Make the decision to reject or fail to reject the null hypothesis at the 0.1 level of significance.j) State the conclusion of the hypothesis test at the 0.1 level of significance.

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Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.