Research Is Conducted Regarding the Average Age at Retirement for Four

question 10

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. $\begin{array}{|l|c|c|c|c|c|}&&\text { age at retirement}\\\hline career& 50-55 & 56-60 & 61-65 & \text { Over } 65 & \text { Total } \\\hline \text { Attorney } & 10 & 40 & 75 & 40 & 165 \\\hline \begin{array}{l}\text { College } \\\text { Professor }\end{array} & 5 & 30 & 80 & 60 & 175 \\\hline \text { Secretary } & 21 & 45 & 63 & 49 & 178 \\\hline \text { Store Clerk } & 18 & 44 & 70 & 50 & 182 \\\hline \text { Total } & 54 & 159 & 288 & 199 & 700 \\\hline\end{array}$ 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:

Merchandise On Account

Goods that have been purchased but not yet paid for, often resulting in an accounts payable for the buyer.

Sales Allowance

A reduction in the selling price of goods or services, typically granted to customers for various reasons like minor defects or dissatisfaction.

Partial Derecognition

The process in accounting where only a portion of a financial asset or liability is removed from the balance sheet.

Receivables

These are amounts owed to a business by its customers for goods or services delivered on credit.