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A marketing firm that markets refrigerators is interested in studying consumer behavior in the context of purchasing a particular brand of refrigerator. It wants to know, in particular, whether the income- level of the consumers influences their choice of refrigerator brand. Currently there are three brands available in the marketplace. Brand A is a premium brand, Brand B is a more moderately priced brand, and Brand C is the most economical brand. A representative stratified random sampling procedure was adopted covering the entire market using income as the basis of selection. Income was classified into three categories: lower, middle and high. A sample of 200 consumers participated in this study and produced the following data: Brand A Brand B Brand C Lower Middle 20 20 30 25 50 15 High 10 15 15 At the 5% significance level, can it be concluded that there is a relationship between income-level and brand preference? Formulate and test the appropriate hypotheses. Use the critical value approach. Clearly state and explain your conclusion within the context of the question.

A marketing firm that markets refrigerators is interested in studying consumer behavior in the context of purchasing a particular brand of refrigerator. It wants to know, in particular, whether the income- level of the consumers influences their choice of refrigerator brand. Currently there are three brands available in the marketplace. Brand A is a premium brand, Brand B is a more moderately priced brand, and Brand C is the most economical brand. A representative stratified random sampling procedure was adopted covering the entire market using income as the basis of selection. Income was classified into three categories: lower, middle and high. A sample of 200 consumers participated in this study and produced the following data: Brand A Brand B Brand C Lower Middle 20 20 30 25 50 15 High 10 15 15 At the 5% significance level, can it be concluded that there is a relationship between income-level and brand preference? Formulate and test the appropriate hypotheses. Use the critical value approach. Clearly state and explain your conclusion within the context of the question.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A marketing firm that markets refrigerators is interested in studying consumer behavior in the context of purchasing a particular brand of refrigerator. It wants to know, in particular, whether the income- level of the consumers influences their choice of refrigerator brand. Currently there are three brands available in the marketplace. Brand A is a premium brand, Brand B is a more moderately priced brand, and Brand C is the most economical brand. A representative stratified random sampling procedure was adopted covering the entire market using income as the basis of selection. Income was classified into three categories: lower, middle and high. A sample of 200 consumers participated in this study and produced the following data: Brand A Brand B Brand C Lower Middle 20 20 30 25 50 15 High 10 15 15 At the 5% significance level, can it be concluded that there is a relationship between income-level and brand preference? Formulate and test the appropriate hypotheses. Use the critical value approach. Clearly state and explain your conclusion within the context of the question.
Transcribed Image Text:A marketing firm that markets refrigerators is interested in studying consumer behavior in the context of purchasing a particular brand of refrigerator. It wants to know, in particular, whether the income- level of the consumers influences their choice of refrigerator brand. Currently there are three brands available in the marketplace. Brand A is a premium brand, Brand B is a more moderately priced brand, and Brand C is the most economical brand. A representative stratified random sampling procedure was adopted covering the entire market using income as the basis of selection. Income was classified into three categories: lower, middle and high. A sample of 200 consumers participated in this study and produced the following data: Brand A Brand B Brand C Lower Middle 20 20 30 25 50 15 High 10 15 15 At the 5% significance level, can it be concluded that there is a relationship between income-level and brand preference? Formulate and test the appropriate hypotheses. Use the critical value approach. Clearly state and explain your conclusion within the context of the question.
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