Catherine Lee, Director of Marketing Research, Is Evaluating Consumer Acceptance $\alpha$

question 3

Multiple Choice

Catherine Lee, Director of Marketing Research, is evaluating consumer acceptance of alternative toothpaste packages.She wonders whether acceptance is influenced by children in the household.Her staff prepared the following contingency table from a random sample of 100 households: Using $\alpha$ = .05, the critical value of chi-square is ___.

• A)5.02
• B)3.84
• C)7.37
• D)6.09
• E)5.99

---

Definitions:

Retail Inventory Method

An accounting method used to estimate inventory value by calculating the cost to retail price ratio.

Cost To Retail Ratio

A method used in retail to calculate inventory value by comparing the cost of goods to their retail price.

Ending Inventory

Ending inventory is the value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Gross Profit Method

An accounting technique used to estimate inventory levels and cost of goods sold by utilizing the gross profit margin.