7. A car that was originally worth $29,500 depreciates at a rate of $2,500 per year. Find the
1 answer:
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Answer:
The correct option is (c) 13.277.
Step-by-step explanation:
The observed data is:
Location Observed sales (units)
Northside 70
Pleasant Township 75
Southwick 70
I-90 50
Venice Avenue 35
TOTAL 300
The test statistic for the Goodness of fit test is:
For <em>k</em> independent samples this test statistic follows a Chi-square distribution with degrees of freedom (<em>k</em> - 1).
The sample size in this case is, <em>k</em> = 5.
The degrees of freedom is, (<em>k</em> - 1) = 4.
The level of significance is, <em>α</em> = 0.01.
The critical value of the test is:
**Use the Chi-square table.
Thus, the critical value is 13.277.
