To determine if there is a difference between the investing preferences of mid-level managers working in the public and private sectors in an eastern city, a random sample of 320 public-sector employees and 380 private-sector employees was taken. Suppose the sampled participants were asked about their retirement investment decisions and classified as being either “aggressive,” if they invested in only stocks or stock mutual funds, or “balanced,” if they invested in some combination of stocks, bonds, cash, and other. The following results were found:

Aggressive Balanced Public 164 156 Private 236 144

a. State the hypothesis of interest and conduct the appropriate hypothesis test to determine whether there is a relationship between employment sector and investing preference. Use a level of significance of 0.01.

b. State the conclusion of the test conducted in part a.