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}$

---

Definitions:

Equity Income

The earnings derived from an investment in the shares of another company, where the income is recognized in proportion to the ownership percentage.

Equity Method

An accounting technique used by a company to record its investment in another company, based on the entity's net asset value and subsequent earnings and losses.

Accounting Objective

The main goal of accounting, which is to provide financial information that is relevant, reliable, and useful for decision-making purposes.

Amortization

The process of gradually writing off the initial cost of an asset over its useful life.