For the data in Exercise 2, a) Compute the standardized residual for each type of card. b)

Question:

For the data in Exercise 2,
a) Compute the standardized residual for each type of card.
b) Are any of these particularly large? (Compared to what?)
c) What does the answer to part b say about this new group of customers?


Data From Exercise 2

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 sample of customers responding to a promotion, of 200 customers, 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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Intro Stats

ISBN: 9780134668420

5th Edition

Authors: Richard D De Veaux, Paul F Velleman, David E Bock, Nick Horton

Question Posted: