The table below shows the gender and the percentage of each gender that spent different amounts at a local book store. The data was taken from a random sample of single shoppers collected over five consecutive Saturdays at the book store. Can a chi- square test be done with this data? Explain why or why not.
Definitions:
Binding Price Ceiling
A legal maximum price for a good or service that is set below the equilibrium price, resulting in shortages.
Equilibrium Price
The market price at which the quantity of a good demanded equals the quantity supplied, leading to market stability.
Surplus
An excess of supply over demand in a market, typically resulting in lower prices.
Price Ceiling
A legally established maximum price that can be charged for a good or service.
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