In 2011, computers of Brand A controlled 25 of the market, Brand ...

[Yi-Chen]

In 2011, computers of Brand A controlled 25 of the market, Brand B 20, Brand C 10, and brand D 45. In 2015, sample data was collected from many randomly selected stores throughout the country. Of the 1,200 computers sold, 280 were Brand A, 270 were Brand B, 90 were Brand C, and 560 were Brand D. Has the market changed since 2011? Test at the 1 significance level.

Question 2

What is meant by the expected monetary value (EMV) of a decision alternative?

[SomethingSomething]

Answer to Question 1

H0: p1 = .25, p2 = .20, p3 = .10, p4 = .45
H1: At least one proportion differs from their specified values
Rejection region: 2 > 20.01,3 = 11.345
Test statistic: 2 = 13.324
Conclusion: Reject the null hypothesis. Yes, the market has changed since 2011, according to the data.

Answer to Question 2

The EMV of a decision alternative is the sum of the products of the payoffs (profit or loss) and the state of nature probabilities.

[Yi-Chen]

Thanks for the timely response, appreciate it

[ricroger]

TYSM