A Sample of N = 100 People Is Classified into Four

question 7

Multiple Choice

A sample of n = 100 people is classified into four categories.If the results are evaluated with a chi-square test for goodness of fit,what is the df value for the chi-square statistic?​

• A)​3
• B)​4
• C)​99
• D)​100

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Definitions:

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, including high startup costs, strict regulations, and strong brand loyalty among consumers.

Perfectly Competitive Markets

A market structure characterized by a large number of small firms, a homogeneous product, perfect information, and easy entry and exit from the market.

Non-Price Competition

Non-Price Competition involves businesses trying to win over customers through quality, service, and other factors, not including price.

Profit-Maximizing Price

The price at which a firm can generate the maximum possible profit for its product or service, balancing between sales volume and profit margin.