A Variable Contains Five Categories $\alpha$ = 01, the Critical Value of Chi-Square Is _______

question 46

Multiple Choice

A variable contains five categories.It is expected that data are uniformly distributed across these five categories.To test this, a sample of observed data is gathered on this variable resulting in frequencies of 27, 30, 29, 21, and 24.Using $\alpha$ = .01, the critical value of chi-square is _______.

• A)7.78
• B)15.09
• C)9.24
• D)13.28
• E)15.48

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Definitions:

Market Index

A statistical measure that shows changes in a financial market by tracking the performance of a set of selected stocks.

Explanatory Factors

Variables that are thought to explain changes or variations in a particular variable of interest, often used in statistical models to understand outcomes.

Industrial Production

The total output, often measured in physical units, of factories, mines, and utilities within an economy.

Inflation

The tempo at which the general cost of goods and services rises, weakening the purchasing strength.