Explain the Basic Logic Behind the Chi-Square Goodness-Of-Fit Test

question 41

Essay

Explain the basic logic behind the chi-square goodness-of-fit test.

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Definitions:

Fair Value

The sum likely to be fetched for selling an asset or the expense incurred to pass on a liability, within a structured deal among participants in the market at the time of assessment.

NCI

Non-Controlling Interest, which refers to shareholders' equity in a subsidiary not attributable to the parent company.

Issued Capital

The total value of a company's shares that have been issued and are held by shareholders.

Tax Rate

The percentage at which an individual or corporation is taxed.