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Back to 11.3 Goodness-of-Fit Test

11.3 Exercise 11

Avg difficulty 2.5

Determine the appropriate test to be used in the next three exercises.

An economist is deriving a model to predict outcomes on the stock market. They create a list of expected points on the stock market index for the next two weeks. At the close of each day’s trading, the economist records the actual points on the index. They want to see how well the model matched what actually happened.

OpenStax Introductory Business Statistics 2e, 11.3 Goodness-of-Fit Test, exercise 11

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Adapted from Introductory Business Statistics 2e © 2023 Rice University. Licensed under CC BY 4.0. Source: Introductory Business Statistics 2e. Imported at revision 50ec917.