The dean of a college of business wants to create some marketing materials to ad

Question

The dean of a college of business wants to create some marketing materials to advertise its MBA in finance. The university sends a survey to a random sample of individuals with MBAs who are mutual fund managers for large investment firms. The survey asked two questions: "What was the rank of your MBA program" and "Did your funds outperform the market last year?" The responses were entered into a 3 times 2 contingency table such as the one shown below. What value of the chi-squared distribution marks the rejection region for a test at the 0.01 level of significance? What value of the chi-square distribution, to two decimal places, would mark the rejection region for a test at the 0.01 level of significance?

Explanation / Answer

Degrees of freedom = (row - 1)(column - 1) = (3 - 1)(2 - 1) = 2

Level of significance = 0.01

So,

Chi - square critical value = 9.21

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