An investor is planning on buying a parking garage. The profitability of the project depends on the parking patterns of the potential customers at the garage. The investors seems at 40% of the customers stay less than an hour, 20% will stay from one to two hours, 15% will stay from 2 to 4 hours, and 25% will stay more than four hours. A random sample of the parking patterns at the nearby parking lot following distribution was observed: a) test the investor’s assumption at the 10% level of significance
An investor is planning on buying a parking garage. The profitability of the project depends on the parking patterns of the potential customers at the garage. The investors seems at 40% of the customers stay less than an hour, 20% will stay from one to two hours, 15% will stay from 2 to 4 hours, and 25% will stay more than four hours. A random sample of the parking patterns at the nearby parking lot following distribution was observed: a) test the investor’s assumption at the 10% level of significance
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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An investor is planning on buying a parking garage. The profitability of the project depends on the parking patterns of the potential customers at the garage. The investors seems at 40% of the customers stay less than an hour, 20% will stay from one to two hours, 15% will stay from 2 to 4 hours, and 25% will stay more than four hours. A random sample of the parking patterns at the nearby parking lot following distribution was observed:
a) test the investor’s assumption at the 10% level of significance 
Transcribed Image Text:4) An investor is planning on buying a parking garage. The profitability of the project
depends on the parking patterns of the potential customers at the garage. The investor
assumes that 40% of the customers stay less than 1 hour, 20% will stay from 1 to 2
hours, 15% will stay from 2-4 hours, and 25% will stay more than 4 hours. In a
random sample of the parking patterns at a nearby parking lot the following
distribution was observed:
Time:
<1 hr
1-2 hrs.
2-4 hrs.
>4 hrs
Observed Frequency:
100
35
25
40
Test the investor's assumptions at the 10% level of significance.
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