The Following Data (In Thousands of Pounds) Have Been Taken

question 2

Multiple Choice

The following data (in thousands of pounds) have been taken from the accounting records of Karmint Corporation for the just completed year:

-The cost of the raw materials used in production during the year (in thousands of pounds) was:

• A)£190.
• B)£160.
• C)£140.
• D)£200.

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Definitions:

Chi-square Test for Independence

A statistical method employed to assess if a significant relationship exists between two variables of categorical type.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution, typically defined as the sample size minus the number of parameters estimated.

Contingency Table

A table often used in statistics to display the frequency distribution of variables, showing the number of observations for each combination of categories.

Qualitative Variables

Variables that express categorical data and can be described or classified by qualities rather than numerical measures.