One Way to Test the Significance of Contingency Tables Is

question 61

True/False

One way to test the significance of contingency tables is by means of the chi-square test.

---

Definitions:

Ceiling Prices

Maximum prices set by the government on certain goods and services to prevent excessive pricing during shortages or inflationary periods.

Rationing Function

The ability of market prices to distribute scarce goods and services among consumers based on willingness and ability to pay.

Marginal Utility

Marginal utility is the additional satisfaction or benefit gained from consuming one more unit of a good or service, which tends to decrease as more units are consumed.

Individual Demand

This refers to the quantity of a good or service that a single consumer is willing and able to purchase at various prices, holding other factors constant.