Use the Following to Answer the Question(s) Below

question 65

Multiple Choice

Use the following to answer the question(s) below.
Chris Columbus is responsible for controlling inventory levels for four types of sailboats sold by his company. Chris takes a sample of 48 boats sold over the past several months to determine if demand is the same for each type. His results are as follows:
Type of Boat Sales
Pirate's Revenge 15
Jolly Roger 11
Sails Delight 10
Cruiser Cove 12
-The calculated value of the Chi Square statistic is

• A) 7.815
• B) 1.17
• C) 22.35
• D) -1.17
• E) 12.56

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Definitions:

Draft

A preliminary version of a document or plan that is subject to revision or editing.

Drawer

The person who writes or issues a check or draft instructing the bank to pay a specified sum to the named beneficiary.

Drawee

The party on whom a check, draft, or bill of exchange is drawn and who is ordered to pay the specified amount.

Promissory Note

A written, legally binding agreement in which one party promises to pay a defined sum of money to another party under specific conditions.