The Wall street journal Corporate Perceptions Study 2011 surveyed readers and asked how each rated the quality of management and the reputation of the company for over 250 worldwide corporations. Both the quality of management and the reputation of the company were rated on an excellent, good and fair categorical scale. Assume the sample data for 200 respondents below applies to this study. Reputation of Company Quality of Management Excellent Good Fair Excellent 40 25 5 Good 3S 35 10 Fair 25 10 15 a Use .05 level of significance and test for independence of the quality of management and the reputation of the company. What is the p-value and what is your conclusion? b. If there is dependence or association between two ratings, discuss and use probabilities to justify your answer.
The Wall street journal Corporate Perceptions Study 2011 surveyed readers and asked how each rated the quality of management and the reputation of the company for over 250 worldwide corporations. Both the quality of management and the reputation of the company were rated on an excellent, good and fair categorical scale. Assume the sample data for 200 respondents below applies to this study.
Reputation of Company
|
Quality of Management |
Excellent |
Good |
Fair |
|
Excellent |
40 |
25 |
5 |
|
Good |
3S |
35 |
10 |
|
Fair |
25 |
10 |
15 |
a Use .05 level of significance and test for independence of the quality of management and the reputation of the company. What is the p-value and what is your conclusion?
b. If there is dependence or association between two ratings, discuss and use probabilities to justify your answer.
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