Contingency Tables Should Not Be Used with Expected Cell Frequencies

question 47

Multiple Choice

Contingency tables should not be used with expected cell frequencies _______.

• A)less than the number of rows
• B)less than the number of columns
• C)less than 5
• D)less than 30
• E)less than 50

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Definitions:

Beginning Inventory

The value of goods available for sale at the start of an accounting period.

Gross Profit Method

An inventory costing method that estimates the cost of goods sold and ending inventory based on the gross profit margin.

Inventory Valuation

The method used to calculate the cost of goods sold and ending inventory, such as FIFO, LIFO, or weighted average cost.

Casualty

An unexpected or sudden event causing loss or damage, often used in insurance to refer to accidents or mishaps causing physical harm or property damage.