Multivariate Techniques That Try to Group Things Together Are Known

question 17

Short Answer

Multivariate techniques that try to group things together are known as ____________________ methods.

Calculate expected frequencies in chi-square tests.

Understand and calculate effect sizes for chi-square tests.

Distinguish between parametric and nonparametric statistical tests and their assumptions.

Apply chi-square tests to assess independence between two categorical variables.

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Definitions:

FOB Destination

A shipping term where the seller is responsible for the delivery of goods to a specific destination, absorbing all costs and risks until the goods are received by the buyer.

Perpetual Inventory System

A method of inventory management where updates to inventory records are made continuously as transactions occur.

Net Price Method

An accounting method where discounts are not recorded in the accounting records; instead, purchases are recorded at the net purchase price.

Exchange Rates

The price of one country's currency in terms of another currency, which determines how much foreign currency one can buy with a unit of domestic currency.