SOLUTION: CTE 12: Pennies from checks or credit card purchases.
Randomly select 100 purchases from your checkbook or 100 credit card purchases that you have made in the past year. Do not
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-> SOLUTION: CTE 12: Pennies from checks or credit card purchases.
Randomly select 100 purchases from your checkbook or 100 credit card purchases that you have made in the past year. Do not
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Question 301853: CTE 12: Pennies from checks or credit card purchases.
Randomly select 100 purchases from your checkbook or 100 credit card purchases that you have made in the past year. Do not mix checks and credit card purchases; pick one or the other for this study.
Would you expect the cents portion of the checks to be evenly represented? Explain why or why not before collecting your sample.
Record the cents portion of those checks into the following table:
Cents Portion
0-24
25-49
50-74
75-99
Number
Use a .05 significance level to test the claim that the four categories are equally likely.
Describe how you obtained your random sample. Did you have any difficulties making a true random sample? What population is your sample describing? Is it representative of most check or credit purchases in the US?
Did your results support your expectation? Provide an explanation.
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