A Particular Insurance Company Wants to Investigate Whether the Gender

question 114

Essay

A particular insurance company wants to investigate whether the gender and age of a client are related. A random sample of 350 clients of this insurance company was taken. $$\begin{array} { | l | c | c | c | } \hline && { \text { Age group } } \\\hline & 25 \text { and under } & \begin{array} { c } \text { Over } 25 \text { and } \\\text { under } 50\end{array} & 50 \text { and over } \\\hline \text { Male } & 35 & 60 & 68 \\\hline \text { Female } & 65 & 80 & 42 \\\hline\end{array}$$ Conduct a test to determine whether gender and age group are independent, using α of 0.01.

---

Definitions:

Cash Donation

A monetary contribution made to support a cause, organization, or individual, typically without expecting anything in return.

Fair Value

A financial metric that represents the price at which an asset would be bought or sold in an orderly transaction between market participants at the measurement date.

Journal Entries

Journal entries are records in financial accounting that document transactions in chronological order, affecting at least two accounts.

Not-for-Profit

An organization that operates for purposes other than generating profit, focusing instead on serving a public or mutual benefit.