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Based on sales over a six-month period, the five top-selling compact cars are Chevy Cruze, Ford Focus, Hyundai Elantra, Honda Civic, and Toyota Corolla (Motor Trend, November 2, 2011). Based on total sales, the market shares for these five compact cars were Chevy Cruze 24%, Ford Focus 21%, Hyundai Elantra 20%, Honda Civic 18%, and Toyota Corolla 17%. A sample of 400 compact car sales in Chicago showed the following number of vehicles sold.
Use a goodness of fit test to determine whether the sample data indicate that the market shares for the five compact cars in Chicago are different than the market shares reported by Motor Trend. Using a .05 level of significance, what is the p-value and what is your conclusion? What market share differences, if any, exist in Chicago?
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EBK MODERN BUSINESS STATISTICS WITH MIC
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