Consider the Following to Answer the Question(s) Below

question 7

Multiple Choice

Consider the following to answer the question(s) below:
Vending machines on a college campus offer a variety of drinks. The purchasing agent believes that each type of drink is equally preferred by students and consequently orders equal quantities. The number of drinks sold from vending machines on this campus for the last six months is shown in the following table.

-The degrees of freedom associated with the test statistic are

• A) 1.
• B) 2.
• C) 3.
• D) 4.
• E) 679.

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Definitions:

Equity

The residual interest in the assets of a company after deducting liabilities, representing the ownership interest of shareholders.

Note Payable

An obligation in the form of a promissory note, which requires the borrower to pay back the loan or debt to the lender at a future date.

General Journal

The primary accounting record used to record all types of transactions not assigned to other journals.

Equipment

Tangible property that is used in the operations of a business and has a useful life of more than one year.