In a Goodness-Of-Fit Test, Suppose That the Value of the Test

question 68

Multiple Choice

In a goodness-of-fit test, suppose that the value of the test statistic is 13.08 and the number of degrees of freedom is 6. At the 5% significance level, the null hypothesis is:

• A) rejected and p-value for the test is smaller than 0.05
• B) not rejected, and p-value for the test is greater than 0.05
• C) rejected, and p-value for the test is greater than 0.05
• D) not rejected, and p-value for the test is smaller than 0.05
• E) none of these

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Definitions:

Condensed Income Statement

A simplified financial statement summarizing a company's revenues, expenses, and net income, without detailed line items.

Net Income

The total earnings of a company after subtracting all expenses, taxes, and losses from total revenue.

Gross Profit

The difference between revenue and the cost of goods sold before deducting any selling, administrative, or other expenses.

Periodic Inventory System

An inventory system where inventory levels are updated at specific intervals rather than continuously, often requiring physical counts.