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The financial manager of a national warehouse chain has found from previous experience that 60% 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 620 260 120 1000 Using a 5% significance level, test whether the payment method pattern has changed.

The financial manager of a national warehouse chain has found from previous experience that 60% 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 620 260 120 1000 Using a 5% significance level, test whether the payment method pattern has changed.

MATLAB: An Introduction with Applications
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 60% 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

620

260

120

1000


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

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