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Name: The financial manager of a national warehouse chain has found from pre
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Description: 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 100

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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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 recepits	500	315	185	1000

Using a 1% significance level, test whether the payment method pattern has changed.

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