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Need answer A firm believes that the distribution of the economic class of its customers i

Need answer A firm believes that the distribution of the economic class of its customers i

Need answer
A firm believes that the distribution of the economic class of its customers is 25%, 50%, and 25% in the three possible categories (i.e., lower income class, middle-income class, or upper income class). To test if this belief is true, data from a random sample of 1000 customers was collected, and the observed frequency in each of the categories found to be 50, 850, and 50. Based on this sample data, we would observe that __________.

the deviation between the observed frequencies and the expected frequencies is quite small so we may not want to reject the firm's belief

the deviation between the observed frequencies and the expected frequencies is somewhat large but we may not want to reject the firm's belief

the deviation between the observed frequencies and the expected frequencies is quite large and we may want to reject the firm's belief

the observed frequencies are equal to the expected frequencies and so the firm's belief cannot be rejected

Johnson 07-Nov-2017

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