The Owner of a Stationary and Office Supplies Online Store

question 3

Multiple Choice

The owner of a stationary and office supplies online store is interested in whether the day of the week affects the number of visitors who made purchases. The null hypothesis is that the number of buyers does not depend on the weekday. Throughout the week the number of buyers was counted. Minitab was used to perform a chi-square goodness-of-fit test for these data. Using the Minitab output and a significance level of α = 0.1, determine the P-value and carry out a test of the null hypothesis. ​ ​

• A) 0.030 < P-value < 0.035, thus the null hypothesis is rejected. There is convincing evidence that the number of buyers depends on the weekday.
• B) 0.045 < P-value < 0.050, thus the null hypothesis is rejected. There is no convincing evidence that the number of buyers depends on the weekday.
• C) P-value < 0.001, thus the null hypothesis is rejected. There is convincing evidence that the number of buyers depends on the weekday.
• D) 0.095 < P-value < 0.100, thus the null hypothesis is not rejected. There is convincing evidence that the number of buyers depends on the weekday.
• E) 0.1 < P-value, thus the null hypothesis is not rejected. There is no convincing evidence that the number of buyers depends on the weekday.

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Definitions:

Price-Output Policies

Strategies implemented by firms or governments to regulate prices and output levels in a market.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied responds infinitely to changes in price.

Demand Schedule

A table listing various quantities of a good or service that consumers are willing to purchase at different price levels, illustrating the relationship between price and quantity demanded.

Price Taker

A seller (or buyer) that is unable to affect the price at which a product or resource sells by changing the amount it sells (or buys).