Question: Refer to the data for problem 8. a. Find the critical value from the chi-squared table for the 5% level and report the result of

Refer to the data for problem 8. 

a. Find the critical value from the chi-squared table for the 5% level and report the result of the chi-squared test. 

b. Find the critical value from the chi-squared table for the 1% level and report the result of the chi-squared test. 

c. Find the critical value from the chi-squared table for the 0.1% level and report the result of the chi-squared test. 

d. State your conclusions (with p-value reported as p>0.05, p<0.05, p<0.01, or p<0.001) and discuss the results in practical terms.


Data from Problem 8

Consider the results of a small opinion poll concerning the chances of another stock market crash in the next 12 months comparable to the crash of 1987, shown in Table 17.4.4. 


TABLE 17.4.4 Responses to the Opinion Poll on the Chances of Another Big Crash in the Stock Market Total Stockholders No

TABLE 17.4.4 Responses to the Opinion Poll on the Chances of Another Big Crash in the Stock Market Total Stockholders Nonstockholders Very likely Somewhat likely Not very likely Not likely at all 26 65 18 41 68 52 31 19 Not sure 13 Total

Step by Step Solution

3.46 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a The critical value is 9488 for the 5 level so we accept the null hypoth... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Practical Business Statistics Questions!