Find the critical value of the test at the 0.025 level of significance. Round your answer to three decimal places.

A manager for an insurance company believes that customers have the following preferences for life insurance products: 50% prefer Whole Life, 30% prefer Universal Life, and 20% 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	Number
Whole	39
Universal	86
Annuities	226

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Expert Solution

Find the critical value of the test at the 0.025 level of significance.

Answer: To find the critical value, we need to know the degrees of freedom. The degrees of freedom is

Therefore, using the chi-square table, we have:

orchestra answered 1 year ago

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