Q.6.2 The financial manager of a national warehouse chain has found from previous experience that 45% of clients pay by credit card, 35% 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 500 315 185 1000 Using a 1% significance level, test whether the payment method pattern has changed.
Q.6.2 The financial manager of a national warehouse chain has found from previous experience that 45% of clients pay by credit card, 35% 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 500 315 185 1000 Using a 1% significance level, test whether the payment method pattern has changed.
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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Q.6.2 The financial manager of a national warehouse chain has found from previous
experience that 45% of clients pay by credit card, 35% 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 500 315 185 1000
Using a 1% significance level, test whether the payment method pattern has
changed.
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