Answered: f 1000 sales receipts from the last…

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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Question

The financial manager of a national warehouse chain has found from previous
experience that 55% of clients pay by credit card, 30% pay on account, while
the remainder pay using cash. He wishes to know if this is still the case. A
random sample of 1000 sales receipts from the last month produced the
following results:

Payment Method
Credit Card Account Cash Total
Number of receipts 525 295 180 1000

Using a 5% significance level, test whether the payment method pattern has
changed.

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