The Number of Cars Sold by Three Salespersons Over a 3-Month

question 13

Essay

The number of cars sold by three salespersons over a 3-month period are shown below: $$\begin{array} { | l | c | c | c | } \hline & & { \text { Brandof Car } } \\\hline \text { Salesperson } & \text { Brand A } & \text { Brand B } & \text { Brand C } \\\hline \text { David } & 7 & 2 & 6 \\\hline \text { Edward } & 11 & 4 & 8 \\\hline \text { Frank } & 8 & 5 & 3 \\\hline\end{array}$$ Using the 5% level of significance, test for the independence of salesperson and type of product sold.

Differentiate between one-sample and two-sample chi-square tests.

Recognize various nonparametric tests and their purposes in data analysis.

Understand the importance of comparing obtained values to critical values in hypothesis testing.

Recognize how degrees of freedom influence the calculation and interpretation of chi-square tests.

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Definitions:

Stock Repurchase

A company's buyback of its own shares from the marketplace, usually to increase the value of remaining shares by reducing supply.

Book Value

The net value of a company's assets, subtracting its liabilities and intangible assets, often used to assess whether a stock is under- or overvalued.

Cash Dividend

A payment made by a corporation to its shareholders, usually as a distribution of profits.

Reverse Stock Split

A corporate action that reduces the number of a company's outstanding shares by combining them into a smaller number of shares.