Investopedia explains 'Chi Square Statistic'
As a simple example of how to calculate and use the chi square statistic, consider tossing a coin 100 times. The expected result of tossing a fair coin 100 times is that heads will come up 50 times and tails will come up 50 times. The actual result might be that heads comes up 45 times and tails comes up 55 times. The chi square statistic will show any discrepancies between the expected results and the actual results.
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