Answer
Yes.
Work Step by Step
a. State the hypotheses and identify the claim.
$H_o:$ At α= 0.05, there is no relationship between the age of the investor and the way the money would be invested.
$H_a:$ At α= 0.05, there is a relationship between the age of the investor and the way the money would be invested.
b. Find the critical value(s).
$\alpha=0.05, df=1\times4=4, \chi^2_c=9.488$
c. Compute the test value.
Calculate the expected values using the correct formula.
Age45 28.18181818 15.45454545 15.45454545 9.545454545 31.36363636
Age65 33.81818182 18.54545455 18.54545455 11.45454545 37.63636364
Calculate $\chi^2=\sum\frac{(O-E)^2}{E}=28.0$
d. Make the decision.
Since $\chi^2>9,488$ we reject the null hypothesis.
e. Summarize the results.
At α= 0.05, there is a relationship between the age of the investor and the way the money would be invested.
