QUESTION 3 2.326 points S In which of the following situations would it make the

Question

QUESTION 3 2.326 points S In which of the following situations would it make the most sense to use a chi- squared goodness-of-fit test? A few years after the automobile manufacturer financial bailout, industry analysts were interested in determining if the reliability of cars (as measured by whether a major repair was needed in the preceding 12 months) was associated with the location of the manufacturer (Asia, Europe, or the U. S.). The analysts took a survey of customers nationwide, asking each to record the location of manufacture and whether or not the customer had any problem within the preceding 12 months. An industry research group wants to determine if the market share (the proportion of the market's total sales) for smartphone vendors Samsung, Apple, LG, and others is the same as it was a year ago. The company conducts a survey of 300 randomly selected smartphone users and records the number of users for each vendor An account analyst at a bank is interested in determining if the distribution of the ages of customers coming in for service is associated with the location of the bank branch. He gathers data from 400 randomly selected transactions, recording the customer's age category (less than 30, 30-55, 56 and older) and which branch the customer visited (main branch or mall branch). An insurance company is investigating the possibility of offering renter's insurance in a particular state. The decision rests on whether the mean dollar amount of a claim is such that the company could offer the policy and make a profit. The company examines a random sample of 600 claims over the past five years across the state, recording the dollar amount of the claim. An analyst at an investment firm wants to see if the mean value (in dollars) of 401(k) retirement accounts is the same for male and female investors. He takes a random sample of 250 accounts for customers of the same approximate age and notes the gender of the investor and the dollar value of the account.

Explanation / Answer

3. An account analyst at a bank is interested in determining if the distribution of ages of customers coming in for service is associated with the location of the bank branch. He gathers data from 400 randomly selected transction's, recording customers' age category (less than 30, 30-35, 56 and older) and which branch the customer visited ( main branch or mall branch).

In Chi-Square goodness of fit test, the term goodness of fit is used to compare the observed sample distribution with the expected probability distribution. Chi-Square goodness of fit test determines how well theoretical distribution fits the empirical distribution.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.