Answered step by step
Verified Expert Solution
Question
1 Approved Answer
n a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as hie four U.S. cities with
n a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, California; Washington, DC; and Lexington Park, Maryland, as hie four U.S. cities with the highest percentage of millionaires (Kiplinger website). Consider a sample of data that show the following number of millianaires for samples of individuals from each of the four citles. a. What is the estimate of the percentage of milionaires in each of these cities (to 1 decimal)? b. Using a=0.05 level of significance, test for the equality of the population proportion of millionalres for se four cities. What is the p-value? Compute the value of the X2 test statistic (to 3 decimals). Use Table 3 of Append 8 to find the p-value. The P-value is
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started