TABLE 12-13
According to an Article in Marketing News, Fewer

question 30

Short Answer

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.
$$\begin{array}{l}\text { \quad\quad\quad\quad \quad\quad\quad\quad\quad\quad\quad\quad Year }\\\begin{array} { c | c | c | c } \text { Check Written } & \text { Year 1 } & \text { Year 2} & \text { Year 3 } \\\hline \text { Yes } & 225 & 175 & 125 \\\text { No } & 275 & 325 & 375\end{array}\end{array}$$
-Referring to Table 12-13, what is the expected number of shoppers who pay by check in year 1 if there is no difference in the proportion of shoppers who pay by check among the three years?

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Definitions:

World Price

The international market price of a good, influenced by global supply and demand.

Free International Trade

The exchange of goods and services across international borders without restrictions such as tariffs, quotas, or subsidies.

Importer

An individual or company that buys goods or services from abroad for domestic use or sale.

World Price

The international market price of a good or service, determined by global supply and demand.