An experiment was conducted to study the choices made in fun

An experiment was conducted to study the choices made in fund selection. When presented with four S&P 500 index funds that were identical except for their fees, 19 undergraduates and 19 MBAs picked the fund with lowest cost; 37 undergraduates and 40 MBAs picked the fund with second lowest cost; 17 undergraduates and 23 MBAs picked the fund with the third-lowest cost; 27 undergraduates and 18 MBAs picked the fund with the highest cost. Determine whether there is a difference in the fund selection based on the student group. Use alpha = 0.05.

The test statistic is 2.82; reject Ho

The test statistic is 2.82; accept Ho

The test statistic is 7.94; reject Ho

The test statistic is 7.94; accept Ho

Solution

The test statistic is 2.82; accept Ho ---> 100% correct answer