After a collapse of the stock market, a business newspaper polled its readers and asked whether...

 

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After a collapse of the stock market, a business newspaper polled its readers and asked whether they expected another big drop in the market during the next 12 months. A contingency table of the responses is available below. (a) Quantify the amount of association between the respondents' stock ownership and expectation about the chance for another big drop in stock prices. (b) Reduce the table by combining the counts of very likely and somewhat likely and the counts of not very likely and not likely at all, so that the table has three rows: likely, not likely, and unsure. Compare the amount of association in this table to that in the original table. Click the icon to view the contingency table. (a) Compute the chi-squared statistic for the table. x = (Round to one decimal place as needed.) Contingency Table - Q Owns Stock? Likelihood of Big Drop Very likely Somewhat likely Not very likely Not likely at all Unsure Total 1227 Yes 22 37 54 17 13 143 .2cep%s8 Total 43 107 127 43 27 204 347 After a collapse of the stock market, a business newspaper polled its readers and asked whether they expected another big drop in the market during the next 12 months. A contingency table of the responses is available below. (a) Quantify the amount of association between the respondents' stock ownership and expectation about the chance for another big drop in stock prices. (b) Reduce the table by combining the counts of very likely and somewhat likely and the counts of not very likely and not likely at all, so that the table has three rows: likely, not likely, and unsure. Compare the amount of association in this table to that in the original table. Click the icon to view the contingency table. (a) Compute the chi-squared statistic for the table. x = (Round to one decimal place as needed.) Contingency Table - Q Owns Stock? Likelihood of Big Drop Very likely Somewhat likely Not very likely Not likely at all Unsure Total 1227 Yes 22 37 54 17 13 143 .2cep%s8 Total 43 107 127 43 27 204 347