A Variable Contains Five Categories $\alpha$ = 01, the Degrees of Freedom for This Test Are _______

question 66

Multiple Choice

A variable contains five categories.It is expected that data are uniformly distributed across these five categories.To test this, a sample of observed data is gathered on this variable resulting in frequencies of 27, 30, 29, 21, and 24.Using $\alpha$ = .01, the degrees of freedom for this test are _______.

• A)5
• B)4
• C)3
• D)2
• E)1

---

Definitions:

Cournot Equilibrium

Equilibrium in the Cournot model, in which each firm correctly assumes how much its competitor will produce and sets its own production level accordingly.

Competitive Equilibrium

A market state where supply equals demand, and no economic forces are compelling either price or quantity to change.

Oligopolistic

Referring to a market structure characterized by a small number of firms that have significant control over prices and market share.

Market

Collection of buyers and sellers that, through their actual or potential interactions, determine the price of a product or set of products.