Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
I just need help with the last part.
![expected frequency for category i, and k is the number of categories. The appropriate x has k - 1 degrees of
freedom.
x? =
i = 1
e;
The observed and expected frequencies are summarized in the table below.
Squared Difference Divided
by Expected Frequency
(f, - e)
Observed
Expected
Frequency
Squared
Difference
Difference
Category
Frequency
fj- eij
eij
(-60)2
3,600
20 - 80 =
3,600
A
20
80
45
45
-60
80
400
B
100
80
20
A 400
5 V
5
40
80
40
1,600
40
40
The sum of the final column will be the x test statistic. Thus, the test statistic is x = 90
90
There are k = 3 categories, so the degrees of freedom is k - 1 = 2
Step 3
This type of test will always be an upper tail test. Use technology to find the p-value for x? = 90 with 2
degrees of freedom, rounding the result to four decimal places.
p-value =
Submit
Skip (you cannot come back)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9f0d6e46-c694-4775-8df4-1059c913dc20%2F842fce26-abf3-4392-b018-a43a5990e00f%2Frc5dkja_processed.png&w=3840&q=75)
Transcribed Image Text:expected frequency for category i, and k is the number of categories. The appropriate x has k - 1 degrees of
freedom.
x? =
i = 1
e;
The observed and expected frequencies are summarized in the table below.
Squared Difference Divided
by Expected Frequency
(f, - e)
Observed
Expected
Frequency
Squared
Difference
Difference
Category
Frequency
fj- eij
eij
(-60)2
3,600
20 - 80 =
3,600
A
20
80
45
45
-60
80
400
B
100
80
20
A 400
5 V
5
40
80
40
1,600
40
40
The sum of the final column will be the x test statistic. Thus, the test statistic is x = 90
90
There are k = 3 categories, so the degrees of freedom is k - 1 = 2
Step 3
This type of test will always be an upper tail test. Use technology to find the p-value for x? = 90 with 2
degrees of freedom, rounding the result to four decimal places.
p-value =
Submit
Skip (you cannot come back)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education