A Savings of $3,000 Resulting from a Data Entry Error

question 89

Multiple Choice

A savings of $3,000 resulting from a data entry error correction would most likely be classified as a(n) :

• A)intangible benefit
• B)qualitative benefit
• C)tangible benefit
• D)operational benefit

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Definitions:

Chi-squared Method

A statistical test used to determine the level of significance of the observed association between categorical variables.

Contingency Table

A matrix-style table that represents the frequency distribution of variables.

One-tail Test

A statistical hypothesis test where the area of interest is in only one tail of the distribution.

Nominal Data

Nominal data refers to a type of data that is categorized without a natural order or rank, such as names, labels, or categories.