TABLE 12-6
According to an article in Marketing News, fewer checks are being written at the grocery store checkout 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.
-Referring to Table 12-6, the assumptions needed to perform the test are satisfied.
Definitions:
Personal Consumption Expenditures
The component of a nation's economy that includes the total amount spent by individuals and households on goods and services.
Market Value
The current price at which an asset or service can be bought or sold in the market.
Net Domestic Investment
The total investment in a country's economy in a given year, minus the depreciation on existing capital.
Gross Domestic Investment
The total amount of money that is invested within a country’s borders in the form of capital purchases and investments in construction and inventory changes.
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