Westminster Financial has released a summary of investment package information from the past fiscal year. During that time, Westminster provided a choice of several pre-designed investment packages. Westminster classified the packages into three categories according to riskiness. We're interested in the possible relationship between the age of an investor and the riskiness of the investment package she chose. So, there are two variables under consideration: age of Westminster investor ("under 35", "35-49", or "50+") and riskiness of investment choice ("risky", "moderate/mixed", or "conservative"). The contingency table below gives a summary of the information released by Westminster regarding age and riskiness of investment package for a random sample of 150 investors. Each cell of the table contains three numbers: the first number is the observed cell frequency (fo); the second number is the expected cell frequency (f) under the assumption that there is no relationship between the two variables age of Westminster investor and riskiness of investment choice for this past year; and the third number is the following value. (fo-E)² (Observedellfrequency Expectedellfrequency fe Expectedellfrequency The numbers labeled "Total" are totals for observed frequency. Part 1 Fill in the missing values in the contingency table. Round your expected frequencies to two or more decimal places, and (fo-JE)² JE values to three or more decimal places. round your
Westminster Financial has released a summary of investment package information from the past fiscal year. During that time, Westminster provided a choice of several pre-designed investment packages. Westminster classified the packages into three categories according to riskiness. We're interested in the possible relationship between the age of an investor and the riskiness of the investment package she chose. So, there are two variables under consideration: age of Westminster investor ("under 35", "35-49", or "50+") and riskiness of investment choice ("risky", "moderate/mixed", or "conservative"). The contingency table below gives a summary of the information released by Westminster regarding age and riskiness of investment package for a random sample of 150 investors. Each cell of the table contains three numbers: the first number is the observed cell frequency (fo); the second number is the expected cell frequency (f) under the assumption that there is no relationship between the two variables age of Westminster investor and riskiness of investment choice for this past year; and the third number is the following value. (fo-E)² (Observedellfrequency Expectedellfrequency fe Expectedellfrequency The numbers labeled "Total" are totals for observed frequency. Part 1 Fill in the missing values in the contingency table. Round your expected frequencies to two or more decimal places, and (fo-JE)² JE values to three or more decimal places. round your
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Part 2
Answer the following to summarize the test of the hypothesis that there is no relationship between the two variables age
of Westminster investor and riskiness of investment choice for this past year. For your test, use the 0.10 level of
significance.
(a) Determine the type of test
statistic to use.
Type of test statistic:
(Choose one)
(b) Find the value of the test statistic. (Round to two or more decimal places.)
0
(c) Find the critical value for a test at the 0.10 level of significance. (Round to two or more
decimal places.)
1
(d) Can we reject the hypothesis that there is no relationship between the variables age of
Westminster investor and riskiness of investment choice for this past year? Use the 0.10
level of significance.
O Yes O No
x
Transcribed Image Text:Westminster Financial has released a summary of investment package information from the past fiscal year. During that
time, Westminster provided a choice of several pre-designed investment packages. Westminster classified the packages into
three categories according to riskiness. We're interested in the possible relationship between the age of an investor and the
riskiness of the investment package she chose. So, there are two variables under consideration: age of Westminster investor
("under 35", "35-49", or "50+") and riskiness of investment choice ("risky", "moderate/mixed", or "conservative").
The contingency table below gives a summary of the information released by Westminster regarding age and riskiness of
investment package for a random sample of 150 investors. Each cell of the table contains three numbers: the first number is
the observed cell frequency (fo); the second number is the expected cell frequency (f) under the assumption that there is
no relationship between the two variables age of Westminster investor and riskiness of investment choice for this past year;
and the third number is the following value.
(fo-fE² (Observedellfrequency Expectedellfrequency
JE
Expectedellfrequency
The numbers labeled "Total" are totals for observed frequency.
Part 1
Fill in the missing values in the contingency table. Round your expected frequencies to two or more decimal places, and
(fo-JE)²
JE
values to three or more decimal places.
round your
Send data to Excel
Age of
Westminster
investor (in
years)
Under 35
35-49
50+
Total
Risky
14
☐
22
Riskiness of investment choice
Moderate/
mixed
13
18.88
0.516
12
||
48
0
0
31
28.71
0.183
29
0
73
Conservative Total
7
6.57
0.028
6
11.41
2.565
16
11.02
2.250
29
34
59
57
150
X
4
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