Question

In: Statistics and Probability

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?

ProductNumber
Whole39
Universal86
Annuities226

Copy Data

Step 8 of 10 :  

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

Solutions

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 2 years ago
Next > < Previous

Related Solutions

You are performing a left-tailed test. If α=.10, find the critical value, to three decimal places....
You are performing a left-tailed test. If α=.10, find the critical value, to three decimal places. zα= how do i put this into a calculator?
Find the critical z value for a confidence level of 94%. Critical Value= round answer to...
Find the critical z value for a confidence level of 94%. Critical Value= round answer to 2 decimal places) Out of 300 people sampled, 246 had kids. Based on this, construct a 99% confidence interval for the true population proportion of people with kids. Give your answers as decimals, to three places I am 99% confident that the proportion of people who have kids is between  and Out of 300 people sampled, 255 had kids. Based on this, construct a 95%...
Find the value x for which: (Round your answers to 3 decimal places. You may find...
Find the value x for which: (Round your answers to 3 decimal places. You may find it useful to reference the appropriate table: chi-square table or F table) x a. P( χ^2 25 ≥ x) = 0.005 b. P( χ^2 25 ≥ x) = 0.010 c. P( χ^2 25  <   x) = 0.005 d. P( χ^2 25 < x) = 0.010
Find the value x for which: (Round your answers to 2 decimal places. You may find...
Find the value x for which: (Round your answers to 2 decimal places. You may find it useful to reference the appropriate table: chi-square table or F table) x a. P(F(7,13) ≥ x) = 0.100 2.23 2.23 Correct b. P(F(7,13) ≥ x) = 0.010 4.44 4.44 Correct c. P(F(7,13) < x) = 0.100 0.14 0.14 Incorrect d. P(F(7,13) < x) = 0.010 0.26 0.26 Incorrect
Find the value x for which: (Round your answers to 3 decimal places. You may find...
Find the value x for which: (Round your answers to 3 decimal places. You may find it useful to reference the appropriate table: chi-square table or F table) x a . P( χ217 ≥ x) = 0.900 b. P( χ217 ≥ x) = 0.950 c. P( χ217  <   x) = 0.900 d. P( χ217 < x) = 0.950
Find P(Z ≥ 1.8). Round answer to 4 decimal places.
Find P(Z ≥ 1.8). Round answer to 4 decimal places.
Find the following probability for the standard normal distribution Round your answer to four decimal places....
Find the following probability for the standard normal distribution Round your answer to four decimal places. P ( z < - 1.53) =
Find the area under the standard normal curve. Round your answer to four decimal places. (a)...
Find the area under the standard normal curve. Round your answer to four decimal places. (a) Find the area under the standard normal curve to the left of =z−2.45. (b) Find the area under the standard normal curve to the right of =z−0.78. (c) Find the area under the standard normal curve that lies between =z−2.39 and =z−1.27. (d) Find the area under the standard normal curve that lies outside the interval between =z−1.42 and =z1.78.
Find the area under the standard normal curve. Round your answer to four decimal places. (a)...
Find the area under the standard normal curve. Round your answer to four decimal places. (a) Find the area under the standard normal curve to the right of z= −1.97. (b) Find the area under the standard normal curve that lies between z= 1.26 and z=2.32. (c) Find the area under the standard normal curve that lies outside the interval between z=0.46 and z=1.75. (d) Find the area under the standard normal curve to the left of z= −0.94.
Use Table C or software to find the following. (Round your answers to three decimal places.)...
Use Table C or software to find the following. (Round your answers to three decimal places.) (a) the critical value for a one-sided test with level α = 0.025 based on the t(8) distribution t* =
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT