Visa Card USA studied how frequently consumers of various age groups use plastic cards 1 answer below »

Visa Card USA studied how frequently consumers of various age groups use plastic cards(debit and credit cards) when making purchases (Associated Press, January 16, 2006).Sample data for 300 customers shows the use of plastic cards by four age groups.Age GroupPayment 18–24 25–34 35–44 45 and overPlastic 21 27 27 36Cash or check 21 36 42 90a. Test for the independence between method of payment and age group. What is thep-value? Using a .05, what is your conclusion?b. If method of payment and age group are not independent, what observation can youmake about how different age groups use plastic to make purchases?c. What implications does this study have for companies such as Visa, MasterCard, andDiscover?

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