In a Chi-Square Test of Independence, the Number of Degrees

question 43

Multiple Choice

In a chi-square test of independence, the number of degrees of freedom equals the:

• A)number of observations minus one.
• B)number of categories minus one.
• C)number of rows minus one times the number of columns minus one.
• D)number of sample observations minus the missing observations.

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Definitions:

Long Run

A period in economics where all factors of production and costs are variable, allowing companies to adjust to market demands.

Prices

The amount of money required to purchase a good or service, serving as a signal for scarcity and demand in the market.

Unemployment

The condition of being jobless and actively seeking employment.

Phillips Curve

An economic concept illustrating an inverse relationship between rates of unemployment and rates of inflation within an economy.