A Major Insurance Firm Interviewed a Random Sample of 1500

question 30

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:

Organizational Identification

The psychological connection between an employee and their organization, influencing their sense of belonging and loyalty.

Work Motivation

The internal and external forces that influence an individual’s willingness to perform and engage in their job tasks.

Reward Dissatisfaction

A state of discontent experienced by employees due to perceived unfair compensation, benefits, or recognition in comparison to their efforts or performance.

Unionized Firm

A company where the workforce is organized into a union, which negotiates with the employer on matters such as wages, hours, and working conditions.