Shown below is 3 x 2 contingency table with observed values from a sample of 1,500. At 95% confidence, test for independence of the row and column factors.
Definitions:
Range
The difference between the highest and lowest values in a set of data, indicating the spread of the data.
Highest Score
The maximum score obtained in a set of observations, test results, or other forms of measurement.
Central Tendency
A statistical measure that identifies the middle or central value of a data set, represented by mean, median, or mode.
Resale Value
The future value at which an asset can be sold, based on its depreciation or appreciation over time.
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