A random sample of 980 heads of households was taken from the customer list for State Bank

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A random sample of 980 heads of households was taken from the customer list for State Bank and Trust.

Those sampled were asked to classify their own attitudes and their parents’ attitudes toward borrowing money as follows:

A: Borrow only for real estate and car purchases B: Borrow for short-term purchases such as appliances and furniture C: Never borrow money The following table indicates the responses from those in the study:

Respondent Parent A B C A 240 80 20 B 180 120 40 C 180 80 40 Test the hypothesis that the respondents’ borrowing habits are independent from what they believe their parents’ attitudes to be. Let a = 0.01.

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Business Statistics

ISBN: 9781292220383

10th Global Edition

Authors: David Groebner, Patrick Shannon, Phillip Fry

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