Problem regarding the degrees of freedom

Assignment Help Accounting Basics

Reference no: EM131008188

At a major credit card bank, the percentages of people who historically apply for the Silver, Gold and Platinum cards are 60%, 30% and 10% respectively. In a recent sam- ple of customers responding to a promotion, of 200 cus- tomers, 110 applied for Silver, 55 for Gold and 35 for Platinum. Is there evidence to suggest that the percentages for this promotion may be different from the historical proportions?

a) What is the expected number of customers applying for each type of card in this sample if the historical proportions are still true?

b) Compute the x2 statistic.

c) How many degrees of freedom does the x2 statistic have?

Reference no: EM131008188

Questions Cloud

What is the difference in proportions : a) Find the proportions of men and women who said they use the Internet at least occasionally. b) What is the difference in proportions? c) What is the standard error of the difference?

Issues in respect of financial innovations : Write an essay of approximately 3000 words discussing these issues in respect of financial innovations. Illustrate your answer as appropriate with actual examples from New Zealand and international banking

Conclude about the null hypothesis : If there is no seasonal effect, about how big, on average, would you expect the x2 statistic to be (what is the mean of the x2 distribution)? Does the statistic you computed in Exercise 1 seem large in comparison to this mean? Explain briefly

Describe different residential construction systems : The assignment is on the topic Plastics. Kindly be very careful about plagiarism and referencing - Describe different residential construction systems and Sketch typical construction details free hand or preferably via an elementary CAD package.

Problem regarding the degrees of freedom : What is the expected number of customers applying for each type of card in this sample if the historical proportions are still true? Compute the x2 statistic. How many degrees of freedom does the x2 statistic have?

Explain in simple language what signi?cantly higher : A friend thinks that "signi?cantly" in this article has its plain English meaning, roughly "I think this is important." Explain in simple language what "signi?cantly higher" and "not signi?cantly different from zero" actually tell us here.

Seasonal effect on human births : If there is no seasonal effect on human births, we would expect equal numbers of children to be born in each season (winter, spring, summer and fall).

Determining the degrees of freedom : Lobster industry 2008, price diagnosed. In Chapter 18, Exercise 35 (Lobster industry 2008), we constructed the fol- lowing regression model to predict the Price of lobster har- vested in Maine's lobster fishing industry.

Advantages of different ways of reporting approval percent : One of the questions asked whether the respondents had a favorable or an unfavorable opinion of 17 news personalities. Diane Sawyer received the highest rating, with 80% of the respondents giving her a favorable rating.39, What is the population f..

User Account

All Pages