When Testing for Independence in a Contingency Table with 3

question 106

Multiple Choice

When testing for independence in a contingency table with 3 rows and 4 columns,there are _____ degrees of freedom.

• A)5
• B)6
• C)7
• D)12

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Definitions:

One-time Payment

A single financial transaction, often made for a specific purpose or to settle a liability.

Rate of Interest

The percentage of the principal amount charged by lenders for the use of their money or paid by banks on deposits over a specified time period.

Doubled

To increase something by 100%, making it twice as large or twice as much in quantity.

Years

Units of time that constitute 365 days (or 366 days in a leap year), commonly used as a measure for time periods in financial calculations.