A study was conducted to determine if there is a difference between the investing preferences of mid-level

Question:

A study was conducted to determine if there is a difference between the investing preferences of mid-level managers working in the public and private sectors in New York City. A random sample of 320 public-sector employees and 380 private-sector employees was taken. The sampled participants were then asked about their retirement investment decisions and classified as being either €œaggressive,€ if they invested only in or stock mutual funds, or €œbalanced,€ if they invested in some combination of bonds, cash, and other. The following results were found:

a. State the hypothesis of interest and conduct the appropriate hypothesis test to determine whether there is a relationship between employment sector and investing preference. Use a level of significance of 0.01.
b. State the conclusion of the test conducted in part a.
c. Calculate the p -value for the hypothesis test conducted in part a.

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...