I the Null Hypothesis in the Goodness-Of-Fit Test Is That

question 126

Multiple Choice

i. The null hypothesis in the goodness-of-fit test is that there is no difference. ii. The alternative hypothesis states that there is a difference between the observed frequencies and the expected frequencies in a goodness-of-fit test.
iii. The number of degrees of freedom appropriate for the chi-square goodness-of-fit test is the number of categories minus 1.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Inventory Unit Costs

The costs associated with obtaining or producing a single unit of inventory, encompassing material, labor, and overhead.

Average Cost Method

An inventory valuation method that assigns the average cost of all similar items in the inventory until they are sold.

LIFO

LIFO, or Last In, First Out, is an inventory valuation method where the last items to be added to inventory are assumed to be the first ones sold.

Ending Inventory

The total value of a company's merchandise, goods, and products held at the end of an accounting period.