Perhaps due to the increase in use of debit and credit


What's in Your Wallet? Perhaps due to the increase in use of debit and credit cards, only 20% of Americans always carry cash.30 A sample of shoppers at the Quaker Bridge Mall in Lawrence, New Jersey was obtained and asked if they were carrying cash. The sequence of responses is given in the following table [cash (C) and no cash (N)].

1103_sequence of responses.png

Is there any evidence to suggest that the order of observations is not random? Use the runs test with a ≈ 0.05.

Solution Preview :

Prepared by a verified Expert
Basic Statistics: Perhaps due to the increase in use of debit and credit
Reference No:- TGS02550339

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)