I If the Computed Value of Chi-Square Is Less Than

question 80

Multiple Choice

i. If the computed value of chi-square is less than the critical value, reject the null hypothesis at a
Predetermined level of significance.
ii. If there are only two cells in a goodness-of-fit test, we should expect 5 or more frequencies.
iii. Chi-square goodness-of-fit test is the appropriate statistical test to use when you wish to
Determine how well an observed set of data fits an expected set of data.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

---

Definitions:

Materials Cost

The cost of raw materials used to produce goods.

Process Costing

A method of costing that is used in industries where production is continuous and the product is indistinguishable from unit to unit.

Equivalent Units

A concept used in cost accounting to represent the amount of work done on partially finished goods, converted into the number of fully finished units.

Conversion Costs

The combination of labor and manufacturing overhead costs required to transform raw materials into finished products.