The Type of Data Most Appropriate for Use in the Chi-Square

question 39

Multiple Choice

The type of data most appropriate for use in the chi-square test of independence is ______.

• A)ratio
• B)interval
• C)continuous
• D)ordinal
• E)nominal

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Definitions:

Advertising Spending

The total amount of money that is allocated towards advertising products or services in various media outlets.

Margin Of Safety

The difference between actual or projected sales and the break-even point, indicating the degree of risk associated with falling sales.

Contribution Margin Ratio

A financial metric that shows the percentage of sales revenue that exceeds variable costs, essentially calculating the portion of sales available to cover fixed expenses.

Margin Of Safety

The difference between actual or expected sales and the sales level at which the business breaks even, indicating the risk level of not covering fixed costs.