A Chi-Square Goodness-Of-Fit Test Shows That the Frequencies Observed Fit

question 15

Multiple Choice

A chi-square goodness-of-fit test shows that the frequencies observed fit well with those that were expected.Hence,the decision was to ______.

• A) reject the null hypothesis
• B) retain the null hypothesis
• C) no decision was made

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Definitions:

Operating Expenses

The costs associated with the day-to-day operations of a business, excluding the costs of goods sold.

Rent Revenue

Income earned from leasing out properties or spaces to tenants.

Periodic Inventory System

An inventory system that updates inventory balances after a specific period, typically using physical counts.

Accounts Payable

Liabilities of a business that are debts owed to creditors for purchases made on credit.