Specify an Appropriate Test (Nonzero Correlation Test, Row Mean Scores

question 14

Essay

Specify an appropriate test (nonzero correlation test, row mean scores differ test, and general association test) for the following types of categorical variables. Justify the choice.
a.education level versus social class (upper, middle, lower)
b.gender versus anxiety rating (none, moderate, severe)
c.race versus political affiliation

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Definitions:

Issue Price

The price at which a company's shares or bonds are made available for sale when they are first issued to the public.

Book Value

The net value of a company's assets minus its liabilities, indicating the total value of the company’s equity as recorded in the financial statements.

Effective-interest Method

An accounting practice for amortizing the discount or premium on bonds or loans in a way that reflects a constant interest rate over the period.

Book Value

The net value of a company's assets minus its liabilities and intangible assets, often used to assess the company's worth.