12 In a 2018 etudy, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as the four U.S. cities with thewered Correctlymgnest pertentage of millionaires (Kiplinger website). Consider a sample of data that show the following number of millionaires for samples of individuals from each of the four cities.CityBridgeport,San Jose,Washington,Lexington Park,MillionaireCTCAD.C.MDYes43343832No457266362368a. What is the estimate of the percentage of millionaires in each of these cities (to 1 decimal)?Bridgeport,San Jose,Washington,Lexington Park,CTCAD.C.MDPercentage, %b. Using a = 0.05 level of significance, test for the equality of the population proportion of millionaires for these four cities. What is the p-value?Compute the value of the x test statistic (to 3 decimals).

Given, Yes 43 34 38 32 No 457 266 362 368

In a 2018 etudy, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as the four U.S. cities with the vered Correctly mgnest percentage of millionaires (Kiplinger website). Consider a sample of data that show the following number of millionaires for samples of individuals from each of the four cities. City Bridgeport, San Jose, Washington, Lexington Park, ETITT Millionaire CA D.C. MD Yes 43 34 38 32 No 457 266 362 368 a. What is the estimate of the percentage of millionaires in each of these cities (to 1 decimal)? Bridgeport, San Jose, Washington, Lexington Park, ст CA D.C. MD Percentage, % b. Using a = 0.05 level of significance, test for the equality of the population proportion of millionaires for these four cities. What is the p-value? Compute the value of the x test statistic (to 3 decimals).

In a 2018 etudy, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as the four U.S. cities with the vered Correctly mgnest percentage of millionaires (Kiplinger website). Consider a sample of data that show the following number of millionaires for samples of individuals from each of the four cities. City Bridgeport, San Jose, Washington, Lexington Park, ETITT Millionaire CA D.C. MD Yes 43 34 38 32 No 457 266 362 368 a. What is the estimate of the percentage of millionaires in each of these cities (to 1 decimal)? Bridgeport, San Jose, Washington, Lexington Park, ст CA D.C. MD Percentage, % b. Using a = 0.05 level of significance, test for the equality of the population proportion of millionaires for these four cities. What is the p-value? Compute the value of the x test statistic (to 3 decimals).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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