Use the Following to Answer Questions

question 65

Short Answer

Use the following to answer questions :
The table below lists the observed frequencies for all four categories for an experiment.

-The null hypothesis for the goodness-of-fit test is that 40% of all elements of the population belong to the first category,30% belong to the second category,20% belong to the third category,and 10% belong to the fourth category.What are the degrees of freedom for this test?

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Definitions:

Sale Price

The price at which an item is sold to the public, often after discounts are applied.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Loss

The state of experiencing a decrease in financial resources or value, often as a result of a business operation, investment failure, or theft.

Break-even Selling Price

The price at which a product must be sold to cover all associated costs of production without making a profit or a loss.