A report included data from a study in which 790 people in a representative sample of college students age 18 to 24 were asked how they perceive their money management skills. Possible responses were excellent, good, average, not very good, and poor. Each student in the sample was also classified by age, resulting in the data in the table. Perception of Money Management SkillsExcellentGoodAverageNot VeryGoodPoorAge 18 to 2079146104178Age 21 to 225310385103Age 23 to 2455843670 Use the data from 790 people in the table to determine if there is evidence of an association between age and perception of money management skills. Because some of the expected values are less than 5, construct a new table that combines the not very good and the poor categories. Use a significance level of ? = 0.05.Find the test statistic and P-value. (Use SALT. Round your test statistic to three decimal places and your P-value to four decimal places.)

Name: A report included data from a study in which 790 people in a represent
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Description: A report included data from a study in which 790 people in a representative sample of college students age 18 to 24 were asked how they perceive their money management skills. Possible responses were excellent, good, average, not very good, and poor.

The hypothesis is, Null hypothesis: H0: There is no an .association between age and perception of…

Answered: A report included data from a study in…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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A report included data from a study in which 790 people in a representative sample of college students age 18 to 24 were asked how they perceive their money management skills. Possible responses were excellent, good, average, not very good, and poor. Each student in the sample was also classified by age, resulting in the data in the table.

	Perception of Money Management Skills
Excellent	Good	Average	Not Very Good	Poor
Age 18 to 20	79	146	104	17	8
Age 21 to 22	53	103	85	10	3
Age 23 to 24	55	84	36	7	0

Use the data from 790 people in the table to determine if there is evidence of an association between age and perception of money management skills. Because some of the expected values are less than 5, construct a new table that combines the not very good and the poor categories. Use a significance level of

? = 0.05.

Find the test statistic and P-value. (Use SALT. Round your test statistic to three decimal places and your P-value to four decimal places.)

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