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i. Nonparametric tests require no assumptions about the shape of the population distribution. ii. There is not one, but a family of chi-square distributions. There is a chi-square distribution for 1 degree of freedom, another for 2 degrees of freedom, another for 3 degrees of freedom, and so on.
iii. The chi-square distribution with large degrees of freedom approaches a normal distribution.
Partnership Liability
The financial obligations or debts for which a partnership is responsible, which can affect the partners' individual tax situations.
Partnership Interest
An ownership share in a partnership, representing a partner's stake in the assets and operations of the business.
Ordinary Income
Income earned through wages, salaries, commissions, and interest, which is taxed at standard federal income tax rates.
Dividend Income
Money paid to shareholders out of a corporation's profits.
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