A Major Insurance Firm Interviewed a Random Sample of 1500

question 25

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:

Futures Contracts

Agreements to buy or sell a particular commodity or financial instrument at a predetermined future date and price.

Copper

A chemical element with the symbol Cu and atomic number 29, known for its high thermal and electrical conductivity, used in electrical equipment, construction, and various alloys.

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument becomes due and is to be paid in full.

Open Interest

Open Interest reflects the total number of outstanding derivative contracts, such as options or futures, that have not been settled.