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A Major Car Manufacturer Was Interested in Whether Its Midsize

question 4

Multiple Choice

A major car manufacturer was interested in whether its midsize car was selling consistently in two markets with respect to the annual income of the car purchasers.Five-hundred new car buyers in Chicago and Miami were surveyed.In Chicago,the following pattern was observed: < $20,000 5%;$20,000-$29,999 0%;$30,000-$39,999 40%;$40,000-$49,999 30%;≥ $50,000 5%.Among those surveyed in Miami,20 earned under $20,000;70 earned between $20,000 and $30,000;265 earned between $30,000 and $40,000;125 earned between $40,000 and $50,000;and 20 earned more than $50,000.The chi-square test was used to check whether Miami sales among income groups were consistent with Chicago's.The appropriate degrees of freedom for the chi-square test would be

Definitions:

Defined Benefit Plan

A retirement plan in which an employer commits to paying a specified pension amount to employees upon retirement, based on factors like salary history and length of employment.

Defined Contribution Plan

A type of retirement plan where employees, employers, or both make contributions on a regular basis, but the benefits received at retirement depend on the performance of the investments.

Vested

A status where an employee has earned the right to receive full benefits from an employer's pension or retirement plan, typically after a specified period of service.

Employer

An individual or organization that hires and pays people to work for them.