Question: Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla (Motor

Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla (Motor Trend, November 2, 2011). Based on total sales, the market shares for these five compact cars were Chevy Cruze 24%, Ford Focus 21%, Hyundai Elantra 19%, Honda Civic 18%, and Toyota Corolla 17%. A sample of 400 compact car sales in Chicago showed the following number of vehicles sold.

Chevy Cruze 108

Ford Focus 92

Hyundai Elantra 64

Honda Civic 84

Toyota Corolla 52

Use a goodness of fit test to determine if the sample data indicate that the market shares for the five compact cars in Chicago are different than the market shares reported by Motor Trend. Using a .05 level of significance, what is the p-value and what is your conclusion? What market share differences, if any, exist in Chicago?

Step by Step Solution

★★★★★

3.35 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

H 0 The market shares for the five automobiles in Chicago are 24 21 19 18 17 H a The market shares f... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

995-M-S-N (2905).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

John Jacobs works for the Fresh Toothpaste Company and has recently been assigned to investigate a new type of toothpaste dispenser. The traditional tube of toothpaste uses a screw-off cap. The new...

Sundown Rent-a-Car, a large automobile rental agency operating in the Midwest, is preparing a leasing strategy for the next six months. Sundown leases cars from an automobile manufacturer and then...

Identify all variables in these research projects and classify them by their level of measurement. Which variables are independent and which are dependent? a. A graduate student asks 500 female...

In a quality control test of parts manufactured at Dabco Corporation, an engineer sampled parts produced on the first, second, and third shifts. The research study was designed to determine if the...

You may need to use the appropriate technology to answer this question. Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda...

2. Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla (Motor Trend, November 2, 2011). A sample of...

Based on sales over a sixmonth period, the five topselling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla (Motor Trend, November 2, 2011). A sample of...

Need help with these problems. 1. Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla.+ Based on...

I need assistance to work out these problem with solution to better understand them. Thank you in advance. A. Health insurance benefits vary by the size of the company. The sample data below show the...

Based on sales over a six month period, the five top-selling cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla. Based on total sales, the market shares for these five...

Recall the updating function with the fraction p of mutant bacteria given by where s is the per capita production of the mutant and r is the per capita production of the wild type. Find the...

The last three changes in r, y, and pi are given next. What are the predicted values of the next set of changes in these series? r y pi -1.41 -0.019420 2.31 -0.48 0.015147 -1.01 0.66 0.003303 0.31

Question 5 4 of 7 5 . Luc purchased a new machine for use in his business. He incurred the following costs with the purchase: $ 1 , 5 0 0 cash paid, $ 8 , 0 0 0 financed, a $ 3 0 0 delivery charge,...

In a single sentence, contrast microeconomics and macroeconomics. Next, categorize each of the following issues 1-1. 1-2. 1-3. 1-4. as a microeconomic issue, a macroeconomic issue, or not an economic...

Given are five observations for two variables, x and y. a. Develop a scatter diagram for these data. b. What does the scatter diagram developed in part (a) indicate about the relationship between the...

Given are five observations collected in a regression study on two variables. a. Develop a scatter diagram for these data. b. Develop the estimated regression equation for these data. c. Use the...

Brawdy Plastics, Inc., produces plastic seat belt retainers for General Motors at its plant in Buffalo, New York. After final assembly and painting, the parts are placed on a conveyor belt that moves...

Suppose that the index model for stocks A and B is estimated from excess returns with the following results: RA = 2.8% + 1.00RM + eA RB = 1.0% + 1.30RM + eB M = 18%; R-squareA = 0.27; R-squareB =...

For each of the following annuities, calculate the annual cash flow. (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal...

Describe the capital budgeting steps that would be necessary to determine whether a proposed project is feasible as related to some specific situation.