During a bear market, 140 investors were asked how they were adjusting their portfolios to protect themselves. Some of these investors were keeping most of their money in stocks, whereas others were shifting large amounts of money to bonds, real estate, or cash (such as money market accounts). The results of the survey are shown in the following table.

Using a 2.5% significance level, test the null hypothesis that the percentages of investors favoring the four choices are all equal.

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Favored choice Stocks Bonds Real Estate Cash Number of investors 46 41 32 21