Research Is Conducted Regarding the Average Age at Retirement for Four

question 12

Multiple Choice

Research is conducted regarding the average age at retirement for four career groups.To test whether there is a relationship between age of retirement and career in these groups,700 employees,recently retired,are randomly selected.The resulting data are displayed in the contingency table below.
How many degrees of freedom are there for the chi-square test statistic?

• A)12
• B)9
• C)16
• D)20
• E)25

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Definitions:

Noncash Assets

Assets that cannot be easily converted to cash but hold value, such as real estate, equipment, and intellectual property.

Deficit

The amount by which expenses exceed income or costs exceed revenues.

Liquidation Expenses

Costs associated with winding up a company's operations and distributing its assets to claimants, often occurring in the event of bankruptcy.

Capital Account Balances

The amounts recorded in a company's financial statements under the heading of Capital, representing the cumulative sum of initial and additional investments minus withdrawals by owners.