The petrol prices during the summer of 2008 raised concerns with new car sellers that potential customers

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The petrol prices during the summer of 2008 raised concerns with new car sellers that potential customers were taking prices into account when choosing a new car. To provide evidence to test this possibility a group of five local car showrooms agreed to ask fleet managers and individual customers during August 2008 whether they were or were not influenced by petrol prices. The results were as shown in Table 7.9.

Did petrol prices influence you in purchasing? Yes No Table 7.9 Fleet customers 56 23 Individual customers 66

At a 5% level of significance is there any evidence for the concerns raised by the car showroom owners? Answer this question using both the critical test statistic and p-value.

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Related Book For  answer-question

Business Statistics Using Excel

ISBN: 9780199659517

2nd Edition

Authors: Glyn Davis, Branko Pecar

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