Consider a Goodness-Of-Fit Test with a Computed Value of Chi-Square

question 57

Multiple Choice

Consider a goodness-of-fit test with a computed value of chi-square = 1.273 and a critical value = 13.388,the appropriate conclusion would be to:

• A)reject H₀.
• B)fail to reject H₀.
• C)take a larger sample.
• D)take a smaller sample.

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Definitions:

Economic Freedom Index

An annual index that measures a country's economic freedom based on factors such as trade freedom, business freedom, investment freedom, and property rights.

Investment Freedom

The ease with which individuals and corporations can allocate their resources without facing excessive regulatory hurdles.

Trade Freedom

A measure of the absence of trade barriers that affect imports and exports, such as tariffs and quotas.

Fiscal Freedom

The degree to which individuals and businesses control their own economic resources, including the policies and laws that influence taxation and government spending.