Question: a and b please In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, Calfornia; Washington, DC; and Lexington Park, Maryland, as the
In a 2018 study, Phoenix Marketing International identified Bridgeport, Connecticut; San Jose, Calfornia; Washington, DC; and Lexington Park, Maryland, as the four U.S. cities with the highest percentage of milionaires (Kiplinger website). Consider a sample of data that show the following number of millionaires for samples of individuals from each of the four cities. a. What is the estimate of the percentage of malionaires in each of these cities (to 1 decimal)? b. Using a=0.05 ievel of sgnificance, test for the equality of the population proportion of malionaires for these four cities. What is the p-vaive? Compute the value of the 2 test statistic (to 3 decimals)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
