Students in an Introductory College Economics Class Were Asked How $\text { Degree of Certainty }$

question 99

Multiple Choice

Students in an introductory college economics class were asked how many credits they had earned in college, and how certain they were about their choice of major. Their replies are summarized below.                          $\text { Degree of Certainty }$
$\begin{array} { |c | c | c | c | c | } \hline \text { Credits Earned }&{ \text { Very Uncertain } } & \text { Somewhat Certain } & { \text { Very Certain} } & \text { Row Tot } \\\hline \text {Under 10 } & 14 & 16 & 6 &46 \\\hline\text { 10 through 59} & 16& 8 & 20 & 44 \\\hline \text { 60 or more } & 2 & 14 & 22 & 38\\\hline \text { Col Total } & 42 & 38 & 48 & 128\\\hline\end{array}$ For a chi-square test of independence, the critical value for ? = .05 is:

• A)5.991.
• B)7.815.
• C)9.488.
• D)16.92.

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Definitions:

Amortised Cost

The amount at which financial assets or liabilities are measured in the balance sheet after the deduction of principal payments and plus or minus the cumulative amortization of any difference between the initial amount recognized and the maturity amount.

Effective Interest Rate

The true cost of borrowing that includes all fees and compounding of interest, expressed as an annual rate.

Fair Value

An approximation of the cost at which a liability or asset might be traded between informed, consenting parties in a fair transaction.

AASB 16

The Australian Accounting Standards Board standard concerning leases, requiring lessees to recognize assets and liabilities for most leases.