In the past, Dumont Clothing Store had 72% charge purchases and 28% cash purchases. A representative...

In the past, Dumont Clothing Store had 72% charge purchases and 28% cash purchases. A representative sample of 200 recent purchases shows that 160 were charge purchases. Does this suggest a statistically significant change in the paying practices of Dumont customers?

1-Hypothesis test for one population mean (unknown population standard deviation)

2-Confidence interval estimate for one population mean (unknown population standard deviation)

3-Hypothesis test for population mean from paired differences

4-Confidence interval estimate for population mean from paired differences

5-Hypothesis test for difference in population means from two independent samples

6-Confidence interval estimate for difference in population means from two independent samples

7-Hypothesis test for one population proportion

8-Confidence interval estimate for one population proportion

9-Hypothesis test for difference between two population proportions

10-Confidence interval estimate for difference between two population proportions

Expert Solution

7-Hypothesis test for one population proportion

(bellow is test details):

null Hypothesis: Ho: p	=	0.720
alternate Hypothesis: Ha: p	≠	0.720

for 0.05 level with two tailed test , critical z=		1.9600
Decision rule : reject Ho if absolute value of test statistic \|z\|>1.96

sample success x =	160
sample size n =	200
std error se =√(p*(1-p)/n) =	0.0317
sample proportion p̂ = x/n=	0.8000

test stat z =(p̂-p)/√(p(1-p)/n)=	2.52

since test statistic falls in rejection region we reject null hypothesis
we have sufficient evidence to conclude that,there is a statistically significant change in the paying practices of Dumont customers

orchestra answered 1 year ago

Kids ’n Caboodle, a children’s clothing store, had the following cash receipts and disbursements for its...

Kids ’n Caboodle, a children’s clothing store, had the following cash receipts and disbursements for its first year of operations: Receipts: Cash sales $155,000 Loan proceeds ___2_1_,_0_0_0_ Total receipts ____1__7__6__,__0__0__0__ Disbursements Merchandise purchases (all sold this year) 84,000 Wages 33,000 Rent and lease payments 22,000 Other operating outlays 7,900 Purchase equipment ___1_0_,_5_0_0_ Total disbursements __1_5_7_,_4_0_0_ Increase in Cash Balance $______1__8__,__6__0__0__ The store has no accounts receivable (it accepts only cash or bank cards for payment). At year-end, an employee had...

On the basis of past experience, Martin Clothing Store manager estimates that the probability that any...

On the basis of past experience, Martin Clothing Store manager estimates that the probability that any one customer will make a purchase is 0.30. Martin Clothing Store forecasts ten customers will enter the store in the next hour; the expected number of customers who will make a purchase is __________. The standard deviation for the number of customers who will make a purchase is __________. NOTE: Write your answers in number format, with 2 decimal places of precision level. Add...

Mike and Andy is a clothing store for teenagers. It is chronically short of cash, so...

Mike and Andy is a clothing store for teenagers. It is chronically short of cash, so arranges a 120-day commercial bill (BAB). According to the theory of management of assets, what use should it put this money to? After thinking about how it could be done, explain the processes an entity might use to collect its debts.

The managers of the center had estimated from past surveys that 28% of calls are conducted...

The managers of the center had estimated from past surveys that 28% of calls are conducted in the morning hours and had scheduled the necessary agents accordingly. However, there are concerns that this percentage has increased recently. What is your conclusion on the basis of this sample? Show the process in the excel. Time Region Gender Type of Call Morning West Female Complaint Morning West Female Submit request Afternoon West Female Submit request Afternoon NorthEast Female General Info Afternoon West...

Ichabod runs a clothing store in London. He recently purchased 1000 dress shirts that had a...

Ichabod runs a clothing store in London. He recently purchased 1000 dress shirts that had a manufacturer’s list price of $35. On each shirt there was a trade discount of 10%, 8% and 6% from the manufacturer. Ichabod’s store has operating expenses that are 35% of the selling price and rate of markup is 60% on selling price. a) He sold 400 shirts at the regular selling price. What was the total revenue from the first 400 shirts sold? b)...

Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8%...

Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest rate per month on the average daily balance. Find the average daily balance if Strong's had an unpaid balance on March 1 of $195.10, a payment of $20 posted on March 9, and a purchase of $34.60 posted on March 25. The billing cycle ends March 31.

During the past year, a company had cash flow to creditors, an operating cash flow, and...

During the past year, a company had cash flow to creditors, an operating cash flow, and net capital spending of $30,817, $70,361, and $31,140, respectively. The net working capital at the beginning of the year was $12,526 and it was $14,950 at the end of the year. What was the company's cash flow to stockholders during the year? Multiple Choice $2,424 $10,828 $5,980 $4,234

The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for...

The Bike and Hike Outlet is a retail store. Transactions involving purchases and cash payments for the firm during June 2019 are listed below, as are the general ledger accounts used to record these transactions. GENERAL LEDGER ACCOUNTS 101 Cash $ 21,900 Dr. 131 Equipment 66,000 Dr. 201 Notes Payable 205 Accounts Payable 4,980 Cr. 501 Purchases 503 Purchases Ret. and Allow. 504 Purchases Discounts 611 Rent Expense 614 Salaries Expense 617 Telephone Expense DATE TRANSACTIONS June 1 Issued Check...

Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $245,000 and...

Purchases and Cash Budgets On July 1, MTC Wholesalers had a cash balance of $245,000 and accounts payable of $138,600. Actual sales for May and June, and budgeted sales for July, August, September, and October are: Month Actual Sales Month Budgeted Sales May $210,000 July $ 126,000 June 224,000 August 112,000 September 140,000 October 168,000 All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected...

Purchases and Cash Budgets On July 1, ABC Wholesalers had a cash balance of $87,500 and...

Purchases and Cash Budgets On July 1, ABC Wholesalers had a cash balance of $87,500 and accounts payable of $49,500. Actual sales for May and June, and budgeted sales for July, August, September, and October are: Month Actual Sales May $75000 June 80,000 Month Budgeted Sales July $45,000 August 40,000 September 50,000 October 60,000 All sales are on credit with 75 percent collected during the month of sale, 20 percent collected during the next month, and 5 percent collected during...

Question