Given That a Contingency Table Has Dimensions of 5 X

question 13

Multiple Choice

Given that a contingency table has dimensions of 5 X 5 , what is the critical value of chi-square at = 0.05?

• A)37.652
• B)26.296
• C)31.410
• D)36.415

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Definitions:

Inelastic

Describes a situation where the quantity demanded or supplied of a good or service changes by a relatively small amount in response to changes in its price.

Quantity Demanded

The amount of a product or service consumers are willing and able to buy at a given price over a specified period of time.

Unit Elasticity

Demand or supply for which the elasticity coefficient is equal to 1; means that the percentage change in the quantity demanded or quantity supplied is equal to the percentage change in price.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price.