Preferences for the Type of Diet Drink from a Random

question 26

Multiple Choice

Preferences for the type of diet drink from a random sample of 121 shoppers are in the table below.A researcher is interested in determining if there is a relationship between the type of diet drink preferred and the age of the shoppers. In performing a chi-square test of independence on these data,how many degrees of freedom will the test statistic have?

• A)1
• B)2
• C)4

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output produced, indicating the variable cost of producing each unit.

Marginal Cost

The price of manufacturing an additional unit of a product or service.

Shutdown

A short-term decision by a company to cease operations due to unfavorable market conditions, aiming to minimize losses.

Short-Run Supply Curve

A graph that shows the relationship between the price of a good and the quantity of that good supplied by producers over a short period, where some inputs are fixed.