please CLEARLY state and HIGHLIGHT the final answer ! A manager for an insurance

Question

please CLEARLY state and HIGHLIGHT the final answer !

A manager for an insurance company believes that customers have the following preferences for life insurance products: 20% prefer Whole Life, 10% prefer Universal Life, and 70% prefer Life Annuities. The results of a survey of 279 customers were tabulated. Is it possible to refute the sales manager's claimed proportions of customers who prefer each product using the data? ProductNumber Whole109 Universal 78 Annuities92 Copy Data Step 7 of 10: Find the degrees of freedom associated with the test statistic for this problem. Tables Keypad Answer How to enter your answer Previous Step Answers Table of Expected Values Submit Answer

Explanation / Answer

Ans:

Degrees of freedom=3-1=2

Chi square test statistic=195.324

p-value=0

As,p-value<0.001,we reject null hypothesis.

There is insufficient evidence to conclude that proportion of sales form above data is equal to claimed proportions.

Product Observed(O) Expected(E) (O-E)^2/E Whole 109 55.8 50.721 Universal 78 27.9 89.965 Annuities 92 195.3 54.638 Total 279 279 195.324

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