Examlex
A coffeehouse wishes to see if customers have any preference among 5 different brands of coffee. A sample of 200 customers provided the data below. Calculate the chi-square test statistic used to test the claim that the probabilities show no preference.
Benefit
The advantage or profit gained from something.
Absolute Advantage
The ability of a country, individual, or firm to produce a good more efficiently than another entity using the same amount of resources.
Comparative Advantage
An economic theory that suggests that countries or entities gain and benefit from trading if they specialize in producing goods for which they have a lower opportunity cost.
Trade
The act of buying, selling, or exchanging goods and services between people or entities, within or across borders.
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