Before the rush began for Christmas shopping, a department store had noted that the percentage of its customers who use the store's credit card, the percentage of those who use a major credit card, and the percentage of those who pay cash are the same. During the Christmas rush in a sample of 150 shoppers, 46 used the store's credit card; 43 used a major credit card; and 61 paid cash.
Test to see if the methods of payment have changed during the Christmas rush at the 0.05 level of significance (perform all six steps of hypothesis testing, including p-values).
This solution is comprised of a detailed explanation of various aspects of Hypothesis Test as it pertains to the given problem. Supplemented with Interactive EXCEL sheet, this solution provides students with a clear perspective of the calculations and underlying concepts.