In Studying the Responses to a Multiple-Choice Test Question, the Following

question 90

Essay

In studying the responses to a multiple-choice test question, the following sample data were obtained. At the
0.05 significance level, test the claim that the responses occur with the same frequency. $$\begin{array} { r | r r r r r } \text { Response } & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \\\hline \text { Frequency } & 12 & 15 & 16 & 18 & 19\end{array}$$

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Definitions:

Call Premium

The extra amount above the par value that a bond issuer must pay to redeem a bond before its maturity date.

Net Profit

The actual profit after working expenses not included in the calculation of gross profit have been paid.

Exercise Price

The price at which the holder of an options contract can buy (call option) or sell (put option) the underlying asset.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.