Before the Rush Began for Christmas Shopping, a Department Store $\alpha$

question 31

Essay

Before the rush began for Christmas shopping, a department store had noted that the percentage of its customers who use the store's credit card, the percentage of those who use a major credit card, and the percentage of those who pay cash are the same. During the Christmas rush in a sample of 150 shoppers, 46 used the store's credit card; 43 used a major credit card; and 61 paid cash. With $\alpha$ = 0.05, test to see if the methods of payment have changed during the Christmas rush.

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Definitions:

Prepaids Insurance

Prepaid insurance refers to insurance premiums that are paid in advance and represent a future economic benefit for the period they cover.

Prime Costs

The combined costs of direct materials and direct labor that are directly involved in the production of goods.

Incurred

Refers to costs or expenses that have been realized or experienced by a business as a result of its operations.

Costs

The value of resources spent in the process of producing or providing goods and services.