b. A survey was conducted to examine the relationship between the use of financial advisor and ownership of stocks among middle income Kenyans. The results of this survey are shown in the table below:...


b. A survey was conducted to examine<br>the relationship between the use of<br>financial advisor and ownership of stocks<br>among middle income Kenyans. The<br>results of this survey are shown in the<br>table below:<br>Use of financial<br>Own<br>Do not own Total<br>advisor<br>stocks<br>stocks<br>Yes<br>165<br>135<br>300<br>No<br>43<br>57<br>100<br>Total<br>208<br>192<br>400<br>At the 5% significance level, can you<br>conclude that the use of a financial advisor<br>is related to stock ownership for all middle<br>income Kenyans? Show your workings.<br>Critical Chi-Square value = 3.841)<br>i. State the null and alternative<br>hypotheses<br>ii. Compute the value of the test statistic<br>iii. What is your hypothesis testing<br>decision and conclusion?<br>

Extracted text: b. A survey was conducted to examine the relationship between the use of financial advisor and ownership of stocks among middle income Kenyans. The results of this survey are shown in the table below: Use of financial Own Do not own Total advisor stocks stocks Yes 165 135 300 No 43 57 100 Total 208 192 400 At the 5% significance level, can you conclude that the use of a financial advisor is related to stock ownership for all middle income Kenyans? Show your workings. Critical Chi-Square value = 3.841) i. State the null and alternative hypotheses ii. Compute the value of the test statistic iii. What is your hypothesis testing decision and conclusion?

Jun 11, 2022
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