Cramer's $\phi$ Is a Statistic That Provides an Estimate of Effect Size

question 54

True/False

Cramer's $\phi$ is a statistic that provides an estimate of effect size.

---

Definitions:

Standard Deviation

A statistical measure of the dispersion or variability in a set of data, often used in finance to gauge the volatility of an investment.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable, indicating how much the distribution leans to the left or right of the mean.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Effective Annual Rate

The real return on an investment, considering the effect of compounding interest over a period, typically one year.