A Sports Researcher Is Interested in Determining If There Is

question 32

Essay

A sports researcher is interested in determining if there is a relationship between the number of home team and visiting team wins and different sports. A random sample of 526 games is selected and the results are given below. Test the claim that the number of home team and visiting team wins is independent of the sport. Use α = 0.01. $$\begin{array} { l | c c c c } & \text { Football } & \text { Basketball } & \text { Soccer } & \text { Baseball } \\\hline \text { Home team wins } & 39 & 156 & 25 & 83 \\\text { Visiting team wins } & 31 & 98 & 19 & 75\end{array}$$

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Definitions:

Bilateral Monopoly

A bilateral monopoly occurs when a market consists of a single supplier and a single buyer.

Monopsonist

A market condition where there is only one buyer or a dominant buyer for a product or service, giving them significant power over prices.

Bilateral Monopoly Wage Rate

refers to the wage rate determined in a market where there is only one employer (a monopoly) and one union or employee (a monopsony), necessitating negotiation to reach an agreement on wages.

Perfectly Inelastic Supply

A market condition where the quantity supplied remains constant regardless of changes in price.