For each of the following situations, state whether youd use a chi-square goodness-of-fit test, chisquare test of

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For each of the following situations, state whether you’d use a chi-square goodness-of-fit test, chisquare test of homogeneity, chi-square test of independence, or some other statistical test.
a) A brokerage firm wants to see whether the type of account a customer has (Silver, Gold, or Platinum) affects the type of trades that customer makes (in person, by phone, or on the Internet). It collects a random sample of trades made for its customers over the past year and performs a test.
b) That brokerage firm also wants to know if the type of account affects the size of the account (in dollars). It performs a test to see if the mean size of the account is the same for the three account types.
c) The academic research office at a large community college wants to see whether the distribution of courses chosen (Humanities, Social Science, or Science) is different for its residential and nonresidential students. It assembles last semester’s data and performs a test.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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