Reference no: EM132518857

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.

Credit Score
Class Less than 650 650-750 More than 750
Income < $50,000 26 30 24
$50,000 ≤ Income < $100,000 63 53 44
$100,000 ≤ Income < $150,000 40. 30 30
Income ≥ $150,000 21 17 22

Using α = 0.01, the critical value for this hypothesis test is ________, and your test statistics to use is _________. (Do not use procedures for hypothesis testing, but you only need to calculate critical value and test statistics for this question)