A random sample of 980 heads of households was taken from the customer list for State Bank and Trust. Those sampled were asked to classify their own attitudes and their parents€™ attitudes toward borrowing money as follows:
A: Borrow only for real estate and car purchases
B: Borrow for short-term purchases such as appliances and furniture
C: Never borrow money The following table indicates the responses from those in the study.

Test the hypothesis that the respondents€™ borrowing habits are independent from what they believe their parents€™ attitudes to be. Let α = 0.01.

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Respondent Parent 240 180 180 80 120 80 20 40 40