Suppose the Value of Your Chi-Squared Test Statistic in a Goodness-Of-Fit

question 95

Multiple Choice

Suppose the value of your chi-squared test statistic in a goodness-of-fit test is equal to 0.What do you conclude?

• A)Reject H₀.Conclude that at least one proportion is not equal to its specified value.
• B)Fail to reject H₀.Not enough evidence to say the proportions are different from what is listed in H₀.
• C)Not enough information; need the degrees of freedom for the test.
• D)None of these choices.

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Definitions:

Total Revenue

The total amount of money a company receives from its business activities before any expenses are subtracted, calculated by multiplying the price per unit by the quantity sold.

Total Cost

The complete cost of production, including both fixed and variable costs.

Quantity Effect

Refers to the change in consumer behavior resulting from a change in the price of a product, where the quantity demanded increases as the price decreases and vice versa.

Total Revenue

The total amount of money received by a company for goods or services sold, before any expenses are subtracted.