In: Statistics and Probability
It is claimed that an equal number of men and women patronize a retail outlet specializing in the sale of jeans. A random sample of 40 customers is observed, with 25 being men and 15 being women. Test the null hypothesis that the overall number of men and women customers is equal by applying the chi square goodness of fit test using the 5 percent level of significance.
Give your statistical decision and business decision for the above problem.