Please solve the exercise below in Excel and show your work (and formulas)
5. In the past, of all the students enrolled in "Basic Business Statistics" 10% earned A's 20% earned B's, 30% earned C's, 20% earned D's and the rest either failed or withdrew from the course. Dr Johnson is a new professor teaching "Basic Business Statistics" for the first time this semester.
At the conclusion of the semester, in Dr. Johnson's class of 60 students, there were 10 A's, 20 B's, 20 C's, 5 D's and 5 W's or F's. Assume that Dr. Johnson's class constitutes a random sample. Dr Johnson wants to know if there is sufficient evidence to conclude that the grade distribution of his class is different than the historical grade distribution.
Use α = 0.05 and 0.01 and perform a goodness of fit test.
The solution provides step by step method for the calculation of chi square test for goodness of fit. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included.