For the Same Bivariate Table, Cramer's V Is

question 24

Multiple Choice

For the same bivariate table, Cramer's V is .27 and lambda is zero. What can we conclude?

• A) a computational mistake has been made. V can never be greater than lambda
• B) this is a negative relationship
• C) there is no association, disregard V
• D) the variables may be associated even if lambda is zero. Disregard lambda if the row marginals are very unequal

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Definitions:

Periodic Inventory System

An accounting method where inventory is physically counted at specific periods to determine the cost of goods sold.

FIFO

An inventory valuation method that assumes the first items placed in inventory are the first sold, standing for First In, First Out.

Gross Profit

The difference between sales revenue and the cost of goods sold, indicating the profitability of a company's core activities.

Periodic Inventory System

An accounting method where inventory is updated and cost of goods sold is calculated at the end of an accounting period.