The dean of a college of business wants to create some marketing materials to ad
ID: 3258961 • Letter: T
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 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 x 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 0.05 level of significance?
Hint: You don't need the actual data in the table to find this. You just need the dimensions of the table.
Funds Outperformed the Market?
Yes
No
Top
Ranking
Middle
Bottom
Funds Outperformed the Market?
Yes
No
Top
Ranking
Middle
Bottom
Explanation / Answer
Degrees of freedom = (3-1)(2-1)= 2
So critical value for chi square 2 df at 0.05 level is 5.991.
If test statistics value > 5.991(critical value) then we can reject H0.
Rejection region is > 5.991
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