Market research plays an integral role in effectively developing business strategies to target the right markets for your product. Accurate market research can be gathered by conducting studies. In some studies, you will need to find chi-squared values -- a comparison between observed and expected results -- to determine if your findings are significant. Significance, in market research terms, means that your findings are most likely accurate. When your data is displayed in a bell curve, you can find the lower and upper values of your study. When you are finding both values, it is referred to as a two-tailed test. A left-tailed test refers to the left side of the bell curve, or lower limits, of the data. On the other side, a right-tailed test allows you to find the upper limits of your data.
Things You'll Need
- Chi-squared table
Look on your chi-squared table in the left column to find your degrees of freedom. Degrees of freedom are parameters used when testing a hypothesis, and are based upon the data from your study.
Locate your significance value along the top of the chart. This value, like the degrees of freedom, varies with each study. The significance value represents the likelihood that your critical value will be exceeded
Find the intersecting numbers from your degrees of freedom and significance value. This value is your critical chi-squared value for a right-tailed test.
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