A financial analyst claims that 19% make all purchases with cash, 17% make most purchases with cash, 20% make half of purchases with cash, 33% make some purchases with cash and 11% make no purchases with cash. You take a random selection to see if you can conclude that the distribution is different than what the financial analyst claims. Use a 10% significance to decide and round to the fourth. Categories Observed Frequency Expected Frequency All Cash 38 Most Cash 115 Half Cash 135 Some Cash 231 No Cash 122 Test Statistic: Degrees of Freedom: p-val:
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A financial analyst claims that 19% make all purchases with cash, 17% make most purchases with cash, 20% make half of purchases with cash, 33% make some purchases with cash and 11% make no purchases with cash. You take a random selection to see if you can conclude that the distribution is different than what the financial analyst claims. Use a 10% significance to decide and round to the fourth.
| Categories | Observed Frequency |
Expected Frequency |
|---|---|---|
| All Cash | 38 | |
| Most Cash | 115 | |
| Half Cash | 135 | |
| Some Cash | 231 | |
| No Cash | 122 |
Test Statistic:
Degrees of Freedom:
p-val:
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