In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, D.C.; and Lexington

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In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, D.C.; and Lexington Park, Maryland as the four U.S. cities with the highest percentage of millionaires (Kiplinger website, https://www.kiplinger.com/slideshow/investing/T064-S001-where-millionaires -live-in-america-2018/index.html). The following data show the following number of millionaires for samples of individuals from each of the four cities. 

City Bridgeport, CT San Jose, Washington, Lexington Park, Millionaire CA D.C. MD Yes 44 35 35 34 No 356 350 364 366


a. What is the estimate of the percentage of millionaires in each of these cities? 

b. Using a .05 level of significance, test for the equality of the population proportion of millionaires for these four cities. What is the p-value and what is your conclusion?

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Statistics For Business & Economics

ISBN: 9781337901062

14th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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