To see whether silicon chip sales are independent of where the XYZ country's economy is in the business cycle, data have been collected on the weekly sales of ABC firm, and on whether the economy was...

Extracted text: To see whether silicon chip sales are independent of where the XYZ country's economy is in the business cycle, data have been collected on the weekly sales of ABC firm, and on whether the economy was rising to a cycle peak, at a cycle peak, falling to a cycle trough, or at a cycle trough. The results are given in the table below. State the null and alternative hypotheses. Calculate the appropriate test statistic and conduct the test of hypothesis at 0.01 level of WEEKLY CHIP SALES Total Economy High Medium Low At Peak 39 14 12 64 At Trough Rising 58 78 58 195 39 16 14 68 Falling 58 16 18 92 Total 195 123 101 419