A Variable Contains Four Categories $\alpha$ = 10, the Appropriate Decision Is ___

question 59

Multiple Choice

A variable contains four categories.It is expected that data are uniformly distributed across these four categories.To test this, a sample of observed data is gathered on this variable resulting in frequencies of 22, 35, 32, and 21.Using $\alpha$ = .10, the appropriate decision is ___.

• A)do not reject the null hypothesis that the observed distribution is uniform
• B)do not reject the null hypothesis that the observed distribution is not uniform
• C)reject the null hypothesis that the observed distribution is uniform
• D)reject the null hypothesis that the observed distribution is not uniform
• E)do nothing

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Definitions:

Alternative Investments

Assets that do not fall into the conventional investment categories such as stocks, bonds, and cash, examples include real estate, commodities, and hedge funds.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Differential Income

The difference in income between two alternatives, used in decision-making processes to determine the best option.

Alternative Use

Refers to the potential other uses or applications of an asset or resource outside its current employment.