If There Are Only Two Categories,the Chi-Squared Goodness-Of-Fit Test Is

question 97

True/False

If there are only two categories,the chi-squared goodness-of-fit test is the same as the z-test for p,the population proportion (as long as the sample/cell sizes meet the conditions).

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, similar products, and very little control over price.

Monopolistic Competition

A market structure in which many firms sell products that are similar but not identical, allowing for significant differentiation and competition.

Excess Capacity

refers to a situation where a firm or economy can produce more goods than currently demanded, often leading to unused resources.

Least-cost Output

The level of production at which a firm can produce a specified quantity of output at the lowest possible cost.