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The following table shows the number of employees who called in sick at a business for different days of a
particular week.
i) At the level of significance, test the claim that sick days occur with equal frequency on the different days of the week.
ii) Test the claim after changing the frequency for Saturday to 152. Describe the effect of this outlier on the test.
MV = PQ
An equation of exchange in economics that states money supply times the velocity of money equals the price level times the output (quantity of goods and services produced).
Big Government
A term referring to a government or state perceived as overly involved in the various aspects of societal, economic, and personal lives of its citizens.
Keynesians
Supporters of the economic theories established by John Maynard Keynes, focusing on total spending in the economy and its effects on output and inflation.
Monetarism
A school of economic thought that emphasizes the role of governments in controlling the amount of money in circulation.
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