A researcher is interested to know if there is a relationship between race and political party affiliation. To investigate this question, she randomly polls 500 people and gets the following result: 
The statistical test that will best determine the degree of association is the phi coefficient. Find chi-square and phi.
Definitions:
Ending Inventory
The total value of all goods available for sale at the end of an accounting period.
Purchases
The total amount spent on goods and services bought by a business for either resale or use in its operation.
Cost-to-retail Ratio
The cost-to-retail ratio is a method used in inventory accounting to estimate the value of ending inventory using the ratio of cost to retail price.
Rising Prices
A situation in an economy where the general level of prices for goods and services increases over time.
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