Summarizing results of survey numerically and graphically

Question

I have the problem where it presents the table of

Asset Size ____ Yes __ No

Under \$100 ____ 63 ___309

101 - \$200 _____59 ___ 132

\$201 or more ___112 __ 85

The question asks: Summarize the results of this survey question numerically and graphically.

For the graphically part I was just going to draw a bar graph with the number of responses for yes and no next to each other according to their asset sizes. Would this be right? Also, how am I supposed to summarize it numerically? This question came from the chi-squared section of my book if that helps any. (I have to do the chi-squared calculation in the next part, but I know how to do this).

EDIT: I went ahead and did the second part. However, I ended up getting a $X^2$ value of 96.306. With a df of 2. P < 0.0005. Is this correct?

Answer 1

You could draw a chi square table (although it wouldn't be 2x2) and have two columns (yes/no) and three rows for each of the levels of assets. Numerically, you could work out the percentages.

http://www.statisticshowto.com/what-is-a-chi-square-statistic/ - this site might help in calculating the correct answer.

Remember to compare the value you get to the critical values in a chi square table - if you do this properly, then you should have the right answer.

By p<0.0005 do you mean p<0.05?