Instruction 15-7
According to an Article in Marketing News, Fewer

question 50

Short Answer

Instruction 15-7
According to an article in Marketing News, fewer cheques 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 cheque 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.
$$\begin{array} { | l | c | c | c | } \hline \text { Cheque Written } & \text { Year 1 } & \text { Year 2 } & \text { Year 3 } \\\hline \text { Yes } & 225 & 175 & 125 \\\hline \text { No } & 275 & 175 & 125 \\\hline\end{array}$$
-Referring to Instruction 15-7,what is the expected number of shoppers who pay by cheque in year 1 if there is no difference in the proportion of shoppers who pay by cheque among the three years?

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Definitions:

Calculated

Determined by mathematical methods; involving the process of using mathematical or logical techniques to derive a result.

Measure

A method or tool used to quantify or evaluate a variable or quantity.

Schedule

A plan that outlines tasks, activities, or events, including their intended start and finish times, in a structured sequence.

Current Ratio

A financial metric indicating how well a company can fulfill its immediate liabilities, using the formula of dividing its current assets by its current liabilities, specifically for debts due within one year.