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TABLE 11-11
A student team in a business statistics course designed an experiment to investigate whether the brand of bubblegum used affected the size of bubbles they could blow. To reduce the person-to-person variability, the students decided to use a randomized block design using themselves as blocks. Four brands of bubblegum were tested. A student chewed two pieces of a brand of gum and then blew a bubble, attempting to make it as big as possible. Another student measured the diameter of the bubble at its biggest point. The following table gives the diameters of the bubbles (in inches) for the 16 observations.
-Referring to Table 11-11, the amount of total variation or SST is ______.
Unrealized Profits
Gains on investments that have increased in value but the increase has not been realized through selling.
Economic Decisions
Choices made by individuals, businesses, or governments based on the allocation of scarce resources with the aim of maximizing benefits and minimizing costs.
Economic Activities
Economic activities encompass all actions that involve the production, distribution, and consumption of goods and services within an economy.
Ethical Conduct
The practice of behaving in a manner that is considered morally right, fair, and appropriate in a given context, especially in professional settings.
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