Question
Applying statistical analysis to real-life or at least real business isn't obvious or the first thing considered, but here are some examples of how chi-square
Applying statistical analysis to real-life or at least real business isn't obvious or the first thing considered, but here are some examples of how chi-square can be used in business:
Suppose you want to determine if certain types of products sell better in certain geographic locations than others. For example, the type of shoes sold in winter depends strongly on whether a retail outlet is located in the upper mid-west versus in the south or if the type of gasoline sold in a neighborhood is indicative of its median income. Another example is a test on if altering a product mix has impacted profits. A more common use of achi-square test of independence is to verify the influence of gender on purchase decisions, such as are men the primary decision-makers when it comes to purchasing a big-ticket item, or Is gender a factor in color preference of a car?
What other uses can you identify for the chi-square test of independence? Name two in different types of applications, businesses, industries, or occupations. If you use research, cite your source(s). Explain the conditions of the test, the factors, and the context of the decision being made.
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