Supermarket: Prices Harper’s Index reported that 80% of all supermarket prices end in the digit 9 or 5. Suppose you check a random sample of 115 items in a supermarket and find that 88 have prices that end in 9 or 5. Does this indicate that less than 80% of the prices in the store end in the digits 9 or 5? Use a = 0.05. (c) Find (or estimate) the P-value. Sketch the sampling distribution and show the area corresponding to the P-value.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
18. Supermarket: Prices Harper’s Index reported that 80% of all supermarket prices end in the digit 9 or 5. Suppose you check a random sample of 115 items in a supermarket and find that 88 have prices that end in 9 or 5. Does this indicate that less than 80% of the prices in the store end in the digits 9 or 5? Use a = 0.05.
(c) Find (or estimate) the P-value. Sketch the sampling distribution and show the area corresponding to the P-value.
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