Assume That a Chi-Square Test Was Conducted to Test the Goodness

question 16

Essay

Assume that a Chi-square test was conducted to test the goodness of fit to a 9:3:3:1 ratio and a Chi-square value of 10.62 was obtained.Should the null hypothesis be accepted? Why?

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Definitions:

Account Receivable

Money owed to a company by its clients or customers for goods and services provided on credit.

Disclosure Note

Supplementary information provided in financial statements offering additional context or explanation about the figures presented, enhancing transparency.

Contingent Liability

A potential financial obligation that may arise in the future depending on the outcome of a specific event.

Reasonably Possible

A term used in accounting and law to indicate that a future event or condition has a chance of occurring.