Based on 2017 sales, the six top-selling compact cars are the Honda Civic, Toyota Corolla, Nissan Sentra,
Question:
Based on 2017 sales, the six top-selling compact cars are the Honda Civic, Toyota Corolla, Nissan Sentra, Hyundai Elantra, Chevrolet Cruze, and Ford Focus (New York Daily News, http://www.nydailynews.com/autos/street-smarts/best -selling-small-cars-2016-list-article-1.2945432). The 2017 market shares are: Honda Civic 20%, Toyota Corolla 17%, Nissan Sentra 12%, Hyundai Elantra 10%, Chevrolet Cruze 10%, and Ford Focus 8%, with other small car models making up the remaining 23%. A sample of 400 compact car sales in Chicago showed the following number of vehicles sold.
Honda Civic.................98
Toyota Corolla.................72
Nissan Sentra.................54
Hyundai Elantra.................44
Chevrolet Cruze.................42
Ford Focus.................25
Others.................65
Use a goodness of fit test to determine if the sample data indicate that the market shares for compact cars in Chicago are different than the market shares suggested by nationwide 2017 sales. Using a .05 level of significance, what is the p-value and what is your conclusion? If the Chicago market appears to differ significantly from the nationwide sales, which categories contribute most to this difference?
Step by Step Answer:
Statistics For Business & Economics
ISBN: 9781337901062
14th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran