After a collapse of the stock market, a business newspaper polled its readers and asked whether they expected another big drop in the market during the next 12 months. A contingency table of the responses is available below. (a) Quantify the amount of association between the respondents' stock ownership and expectation about the chance for another big drop in stock prices. (b) Reduce the table by combining the counts of very likely and somewhat likely and the counts of not very likely and not likely at all, so that the table has three rows: likely, not likely, and unsure. Compare the amount of association in this table to that in the original table. Click the icon to view the contingency table. (a) Compute the chi-squared statistic for the table. Contingency Table x = (Round to one decimal place as needed.) - X Owns Stock? Likelihood of Big Drop Very likely Yes No Total 17 26 43 Somewhat likely 38 63 101 Not very likely 51 66 117 Not likely at all 25 35 60 Unsure 15 14 29 Total 146 204 350 The best-known credit rating in one country is the FICO score. The score ranges from 300 to 850, with higher scores indicating that the consumer is a better credit risk. For the accompanying table, consumers with scores below 620 are labeled Risky. Those having scores between 620 and 660 are labeled Uncertain. Those between 660 and 720 have an Acceptable credit rating, and consumers with scores over 720 have Perfect credit. A department store kept track of loans (in the form of a store credit card) given to customers with various ratings. The accompanying table shows the proportion of customers within each risk category that did not repay the loan (defaulted). Complete parts (a) through (d) below. i Click the icon to view the table. (a) Is the credit score (as defined by these four categories) associated with default? How can you tell? A. No, because the percentages are approximately the same among the rows. B. Yes, because the percentages differ among the columns. C. Yes, because the percentages are approximately the same among the columns. D. No, because the percentages are approximately the same among the columns. E. No, because the percentages differ among the columns. F. Yes, because the percentages differ among the rows. Table of proportions for defaulting Score Range Defaulted Repaid Risky 38% 62% Uncertain 16% 84% Acceptable 4% 96% Perfect 2% 98% The data to the right compare the on-time arrival performance of two airlines, X and Y. The table shows the status of 13,686 arrivals for one year. Complete parts (a) through (c) below. Airline X Airline Y On time 6,141 5,099 Delayed 1,302 1,144 (a) On the basis of this initial summary, find the percentages (row or column) that are appropriate to comparing the on-time arrival rates of the two airlines. Which arrives on time more often? Airline X 6,141 Airline Y 5,099 On time % % 1,302 1,144 Delayed % % (Round to one decimal place as needed.)