Math  /  Data & Statistics

Question(Note if any boxes seem not applicable, leave blank.) A random sample of 130 business executives was classified according to age and the degree of risk aversion as measured by a psychological test.
Degree of Risk Aversion \begin{tabular}{|c|c|c|c|c|} \hline Age & \multicolumn{3}{|c|}{ Low } & Medium \\ High & Total \\ \hline Below 45 & 14 & 22 & 7 & 43 \\ \hline 455545-55 & 16 & 33 & 12 & 61 \\ \hline Over 55 & 4 & 15 & 7 & 26 \\ \hline Total & & & & 130 \\ \hline \end{tabular}
Do these data demonstrate an association between risk aversion and age?
Test Statistic: \square According to your table, the P -value is bounded by: .50 \square Is there sufficient evidence to demonstrate an association between

Studdy Solution
Compare the p-value to a significance level (commonly 0.05) to determine if there is sufficient evidence to reject the null hypothesis.
The test statistic and p-value bounds will be calculated based on the chi-square distribution table and the computed chi-square statistic.

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