Use a ?² Test to Test the Claim That in the Given

question 16

Essay

Use a ?² test to test the claim that in the given contingency table, the row variable and the column variable are independent
-The table below shows the age and favorite type of music of 668 randomly selected people. $$\begin{array} { l | r r r } & \text { Rock } & \text { Pop } & \text { Classical } \\\hline 15 - 25 & 50 & 85 & 73 \\25 - 35 & 68 & 91 & 60 \\35 - 45 & 90 & 74 & 77\end{array}$$ Use a 5 percent level of significance to test the null hypothesis that age and preferred music type are independent.

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Definitions:

Trading Securities

Financial assets that are purchased with the intention of selling them in the short term to profit from price fluctuations.

Fair Value

An estimated market value of an asset or liability based on current market prices or valuations.

Temporary Investments

Short-term investments made by a company in securities that can be easily converted into cash, typically held for a year or less.

Market Price

The current market price for acquiring or disposing of an asset or service.