Suppose Bank of America would like to investigate if the credit score and income level of an individual are independent of one another.Bank of America selected a random sample of 400 adults and asked them to report their credit score range and their income range.The following contingency table presents these results. Based on the critical value approach and using α = 0.01,which of the following the decision and conclusion for this hypothesis test would be?
A) The test statistic is greater than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another.
B) The test statistic is greater than the critical value;we cannot reject the null hypothesis and can conclude that credit score and income are independent of one another.
C) The test statistic is less than the critical value;we cannot reject the null hypothesis and cannot conclude that credit score and income are not independent of one another.
D) The test statistic is less than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another.

Question

Suppose Bank of America would like to investigate if the credit score and income level of an individual are independent of one another.Bank of America selected a random sample of 400 adults and asked them to report their credit score range and their income range.The following contingency table presents these results.  Based on the critical value approach and using α = 0.01,which of the following the decision and conclusion for this hypothesis test would be?
A) The test statistic is greater than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another. 
B) The test statistic is greater than the critical value;we cannot reject the null hypothesis and can conclude that credit score and income are independent of one another. 
C) The test statistic is less than the critical value;we cannot reject the null hypothesis and cannot conclude that credit score and income are not independent of one another. 
D) The test statistic is less than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another.

Quizplus · Accepted Answer

The Answer of Suppose Bank of America would like to investigate if the credit score and income level of an individual are independent of one another.Bank of America selected a random sample of 400 adults and asked them to report their credit score range and their income range.The following contingency table presents these results.  Based on the critical value approach and using α = 0.01,which of the following the decision and conclusion for this hypothesis test would be?
A) The test statistic is greater than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another. 
B) The test statistic is greater than the critical value;we cannot reject the null hypothesis and can conclude that credit score and income are independent of one another. 
C) The test statistic is less than the critical value;we cannot reject the null hypothesis and cannot conclude that credit score and income are not independent of one another. 
D) The test statistic is less than the critical value;we reject the null hypothesis and cannot conclude that credit score and income are independent of one another.

Suppose Bank of America Would Like to Investigate If the Credit