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At least in the developed world, three societal issues affecting business have been paramount: equity, ethics, and environmental sustainability.
Critical Value
A threshold value that defines the boundary of the critical region, where if the test statistic exceeds this value, the null hypothesis is rejected.
Alpha
A threshold value used in hypothesis testing that represents the level of significance, typically set at 0.05 or 0.01, indicating the probability of wrongly rejecting the null hypothesis.
Chi-square Statistic
A statistical measure used to determine if there is a significant relationship between two categorical variables.
Degrees of Freedom
The number of independent values or quantities that can vary in the calculation of a statistic.
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