Refer to Exercise A15.6. The financial analyst undertook another project wherein respondents were also asked the age

Question:

Refer to Exercise A15.6. The financial analyst undertook another project wherein respondents were also asked the age of the head of the household. The choices are

1. Younger than 25

2. 25 to 34

3. 35 to 44

4. 45 to 54

5. 55 to 64

6. 65 and older

The responses to questions about ownership of mutual funds is No = 1 and Yes = 2. Do these data allow us to infer that the age of the head of the household is related to whether he or she owns mutual funds?

Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...