Explain what chi squared goodness of fit is. What is the underlying assumption? What is the test statistic and what is its asymptotic distribution? How the hypothesis is formulated and what are the expected outcomes? What is the criterion for rejecting the null hypothesis? How is the p value evaluated? Provide a hypothetical formulation of goodness of fit test.Explain what chi squared test of independence is. What is the underlying assumption? What is the test statistic and what is its asymptotic distribution? How the hypothesis is formulated and what are the expected outcomes? What is the criterion for rejecting the null hypothesis? How is the p value evaluated? Provide a hypothetical formulation of test of independence.

For this assignment, you’ll complete Technology Assignment 1 in Lesson 2-2 of the textbook in ALEKS, in which you’ll complete some budget entries and create pie chart. (You’ll be using similar concepts to complete the Monthly Budget section of Major Assignment 1.)You are creating a monthly budget, and this is very similar to MA1. One thing to keep in mind, you are making up a pretend budget. Have some fun, create your dream budget, or use this to practice making your own budget for your life. Just keep in mind that the whole class can see this.Start by downloading the “QR 2-2 Tech Template.xlsx” Excel template that is attached.This video, Tech Hints QR 2-2, provides additional assistance with the template, including a demonstration of how to create a pie chart.The elements you’ll need to complete for this DQ are the following:Enter at least 10 items in the 'blue cells'. These are the numbers you are making up. Make sure at least three categories have more than one item. Note that you can input any numbers you’d like here, and you don’t need to add descriptions for your entries.Enter formulas in cells B2:B7, adding up the expenses for each category, using the Excel SUM() function. Note that if you reference each entire column the table in your SUM() formula, then as you add entries in the table, your category totals will automatically reflect that change.Format all cells in both your budget table and for your category totals as Currency with 2 decimal places.Add a pie chart showing your expenses by category and including data labels. Also update the chart title to something other than “Chart Title” that reflects the chart information. Here is a silent video demonstrating inserting a pie chart that another instructor made.