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Use the following information to answer the question. The data in the top row of the table shows the number of days for which the respondent participated in an outdoor activity for at least thirty minutes in the previous 60 days. The respondents also reported their level of happiness; Very H means very happy, and so on.
-The following table shows the data after merging categories so that there are two column categories (0-2 days of outdoor activity of at least thirty minutes and 3 or more days of outdoor activity of at least thirty minutes), and two row categories (happy and unhappy). Expected values for each cell are also shown in parenthesis. Test the hypothesis that there is an association between happiness and with level of daily outdoor activity in the last 60 days, using a significance level of 0.05. State the value of the test statistic rounded to two decimal places, state whether the p-value is closer to zero or one.
Net Present Value
A calculation used to determine the present value of a series of future cash flows minus the initial investment, often used in capital budgeting.
Return on Investment
A financial metric used to evaluate the efficiency of an investment, calculated by dividing the benefit (return) of an investment by the cost of the investment.
Present Value of An Annuity
The current worth of a series of future payments or receipts, discounted at a specific interest rate.
Net Present Value
A calculation that compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account to analyze the profitability of investments.
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