Consider the following hypothetical data.

Home Ownership

Financial situation	Own	Rent	Row Total
Satisfied	69	300	369
More or less satisfied	232	288	520
Not satisfied	64	97	161
Column total	365	685	1050

a). Treating homeownerhsip as the independent variable and financial situation as the dependent variable, calculate the value of E1 and E2 in the equation for lambda and use them to compute lambda as well.

b). Does the lambda indicate whether we have a weak, moderate or strong association in the table above?

c). In a clearly articulated sentence describe how well the independent variable allows us to reduce errors made in predicting satisfaction with one's financial situation.