TABLE 12-13
According to an Article in Marketing News, Fewer $$\text { Year }$$

question 96

Multiple Choice

TABLE 12-13
According to an article in Marketing News, fewer checks are being written at grocery store checkout stands than in the past. To determine whether there is a difference in the proportion of shoppers who pay by check among three consecutive years at a 0.05 level of significance, the results of a survey of 500 shoppers in three consecutive years are obtained and presented below.
$$\text { Year }$$
$$\begin{array} { c | r | r | r } \text { Check Writter } & \text { Year } 1& \text { Year 2 } & \text { Year 3 } \\\hline \text { Yes } & 225 & 175 & 125 \\\text { No } & 275 & 325 & 375\end{array}$$
-Referring to Table 12-13, what is the correct conclusion?

• A) There is not enough evidence that at least two of the proportions are not equal.
• B) There is enough evidence that the proportions are all different in the 3 years.
• C) There is enough evidence that at least two of the proportions are not equal.
• D) There is not enough evidence that the proportions are all different in the 3 years.

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Definitions:

Break-even

The point at which total cost and total revenue are equal, meaning there is no net loss or gain.

Profit-maximizing

A strategy or condition where a firm adjusts its production to achieve the highest possible profit based on its costs and the market price.

Shut-down Point

The price and quantity point at which a business ceases operations because continuing would result in losses.

Economically Efficient

A situation where resources are allocated in a way that maximizes the net benefit to society or minimizes the cost of achieving a set output level.