Which Statistic Below Is a Measure of How Well the Frequencies

question 30

Multiple Choice

Which statistic below is a measure of how well the frequencies of one nominal variable predict the frequencies of another variable?

• A) Cramer's V
• B) r²

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Definitions:

Profit

The financial gain realized when the revenue from business activities exceeds expenses, costs, and taxes.

Revenue

The sum of earnings from selling goods or providing services which are fundamental to a company's core business activities.

Profit-Maximizes

The procedure an enterprise employs to find the optimal price and output level for maximum profit.

Long Run Adjustment

The process through which firms adjust their levels of production, capital, and other inputs to reach a new equilibrium in response to changes in market conditions over time.