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Before the start of the Winter Olympics, it was expected that the percentages of medals awarded to the top contenders to be as follows.
Midway through the Olympics, of the 120 medals awarded, the following distribution was observed.
We want to test to see if there is a significant difference between the expected and actual awards given.
a.Compute the test statistic.
b.Using the p-value approach, test to see if there is a significant difference between the expected and the actual values. Let .05.
c.At 95% confidence, test for a significant difference using the critical value approach.
Nonexclusive
A property of a good or service where one person's use does not diminish availability to others.
External Benefit
A benefit that results from an economic activity which accrues to unrelated third parties.
Third Party
An entity involved in a transaction or agreement who is not one of the principal parties.
Cooperative
An organization consisting of people who pool their resources to buy and sell more efficiently than they could individually.
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