Perform the Indicated Goodness-Of-Fit Test

question 27

Essay

Perform the indicated goodness-of-fit test. A company manager wishes to test a union leader's_
claim that absences occur on the
different week days with the same frequencies. Test this claim at the 0.05 level of
significance if the following sample data have been compiled. $$\begin{array} { c | c c c c c } \text { Day } & \text { Mon } & \text { Tue } & \text { Wed } & \text { Thurs } & \text { Fri } \\\hline \text { Absences } & 37 & 15 & 12 & 23 & 43\end{array}$$

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Definitions:

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term liquidity of the company.

Long-term Investments

Investments made with the intention of holding them for an extended period, typically more than one year, such as bonds, stocks, or real estate.

Accounts Receivable

Funds that a company is yet to receive from its customers for products supplied or services rendered but haven't been paid for.

Percentage Increase

A measure that calculates the growth of a value over a period as a proportion of the earlier value, often expressed as a percentage.