Discuss the following problems:
Q: Goody Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days. The info is reported as follows:
#of credit Frequency National stats
applications
0 100 95
1 154 165
2 162 152
3 96 102
4 62 57
5 or more 26 29
at the 0.02 significance level:
a) State the decision rule
b) Compute the value of the chi-squared
c) What is the decision regarding h0?