Which of the Following Is the Correct Decision in a Goodness-Of-Fit

question 116

Short Answer

Which of the following is the correct decision in a goodness-of-fit test, if the calculated value of the test statistic is 20.08 and there are 10 categories, testing at α of 1%? $\begin{array}{|l|l|}\hline A&\text {We reject Ho because \( p \)-value \( <0.01 \). }\\\hline B&\text {We retain Ho because \( \mathrm{p} \)-value \( <0.01 \). }\\\hline C&\text { We reject Ho because \( 0.01< p \)-value \( <0.025 \).}\\\hline D&\text {We retain Ho because 0.01< p-value <0.025 }\\\hline \end{array}$

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Definitions:

Allocation Of Risk

The process of defining and assigning the financial or operational responsibilities associated with potential risks in contractual agreements.

Parties

Individuals, groups, or entities that enter into a legal agreement or are involved in a legal proceeding.

Agreement

A mutual understanding or arrangement between two or more parties about their relative rights and responsibilities.

Good Faith Purchaser

An individual who buys property without knowledge of any existing claims or defects against it.