Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check My Work (1 remaining) In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland,

image text in transcribed

Check My Work (1 remaining) In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as the four U.S. cities with the highest percentage of millionaires (Kiplinger website). Consider a sample of data that show the following number of millionaires for samples of individuals from each of the four cities. City Bridgeport, San Jose, Washington, Lexington Park, Millionaire CT CA D.C. MD Yes 44 36 38 32 No 456 264 362 368 a. What is the estimate of the percentage of millionaires in each of these cities (to 1 decimal)? Bridgeport, San Jose, CT CA Percentage, % Washington, D.C. Lexington Park, MD b. Using a = 0.05 level of significance, test for the equality of the population proportion of millionaires for these four cities. What is the p-value? Compute the value of the X test statistic (to 3 decimals). Use Table 3 of Appendix B to find the p-value. The p-value is Select your answer What is your conclusion? - Select your answer that there is a difference among the population proportion of millionaires for these four cities.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cambridge IGCSE And O Level Additional Mathematics

Authors: Val Hanrahan, Jeanette Powell

1st Edition

1510421645, 978-1510421646

More Books

Students also viewed these Mathematics questions