TABLE 11-11
a Student Team in a Business Statistics Course

question 3

Short Answer

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.
$$\begin{array}{l}\text { Brand of Bubblegum }\\\begin{array} { l c c c c } \hline \text { Student } & \text { A } & \text { B } & \text { C } & \text { D } \\\hline \text { Kyle } & 8.75 & 9.50 & 8.50 & 11.50 \\\text { Sarah } & 9.50 & 4.00 & 8.50 & 11.00 \\\text { Leigh } & 9.25 & 5.50 & 7.50 & 7.50 \\\text { Isaac } & 9.50 & 8.50 & 7.50 & 7.50 \\\hline\end{array}\end{array}$$
-Referring to Table 11-11, what is the estimated relative efficiency?

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Definitions:

Expected Cash Flows

The projected amounts of money to be received or paid out by a business within a specified period.

FASB Concepts

Theoretical principles and frameworks established by the Financial Accounting Standards Board to guide the development of accounting standards.

Interest Rate

The percentage at which interest is charged or paid on borrowed or saved money, typically expressed as an annual percentage.

Expected Cash Flows

The projected amount of cash that is anticipated to be generated or expended over a certain period in the future.