A Goodness-Of-Fit Test Analyzes for Two Qualitative Variables Whereas a Chi-Square

question 34

True/False

A goodness-of-fit test analyzes for two qualitative variables whereas a chi-square test of a contingency table is for a single qualitative variable.

---

Definitions:

Equity

The value of an ownership interest in property or businesses, after deducting debts and liabilities.

First-Time Entrepreneurs

Individuals starting a business for the first time, often facing unique challenges and learning experiences.

Profitable Sales

Transactions that result in excess revenue over the cost of goods sold (COGS) and other expenses, contributing to the financial gain of a business.

High Value-Added

Products or services that undergo significant improvements or enhancements, adding considerable value over the basic cost of materials and production.