I the Sum of the Expected Frequencies in a Goodness-Of-Fit

question 43

Multiple Choice

i. The sum of the expected frequencies in a goodness-of-fit test need not equal the sum of the observed frequencies. ii. A goodness-of-fit test is a nonparametric test involving a set of observed frequencies and a corresponding set of expected frequencies.
iii. For a goodness-of-fit test, the following are possible null and alternate hypotheses; Null: Sales are uniformly distributed among the five locations. Alternate: Sales are not uniformly distributed among the five locations.

• 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:

Compounded Annually

A method of calculating interest where the interest rate is applied once per year to the principal, including any interest from previous periods.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Compounded Monthly

A method of calculating interest where the interest earned is added to the principal, and the total becomes the basis for calculation in the subsequent month.

Insurance Settlement

The amount paid by an insurance company to a policyholder or claimant as compensation for a covered loss.