A Major Insurance Firm Interviewed a Random Sample of 1500

question 88

Essay

A major insurance firm interviewed a random sample of 1500 college students to find out the type of life insurance preferred, if any. The results follow: $$\begin{array} { | l | c c c | } \hline &{ \text { Insurance Preference } } \\\hline \text { Gender } & \text { Term } & \text { Whole life } & \text { No insurance } \\\hline \text { Female } & 170 & 110 & 470 \\\hline \text { Male } & 195 & 75 & 480 \\\hline\end{array}$$ Is there evidence that the life insurance preference of male students is different to that of female students? Test using the 5% level of significance.

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Definitions:

Marginally Ethical Behavior

Actions or decisions that barely meet the minimum standards of ethical conduct.

Ethics

A system of moral principles that govern the conduct of an individual or group.

Specific Goals

Clearly defined, targeted objectives that an individual or organization aims to achieve within a specific timeframe.

Overstate Productivity

To exaggerate or claim a higher level of efficiency and output than is actually the case.