TABLE 11-8 An Important Factor in Selecting Database Software Is the Time

question 157

Short Answer

TABLE 11-8
An important factor in selecting database software is the time required for a user to learn how to use the system. To evaluate three potential brands (A, B and C) of database software, a company designed a test involving five different employees. To reduce variability due to differences among employees, each of the five employees is trained on each of the three different brands. The amount of time (in hours) needed to learn each of the three different brands is given below:

Below is the Excel output for the randomized block design:

-Referring to Table 11-8, what is the critical value for testing the block effects at a 0.05 level of significance?

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Definitions:

Profit-Maximizing

Profit-Maximizing refers to a company's goal of achieving the highest possible profit through adjusting production levels, pricing strategies, and other operational decisions.

Loss-Minimizing

A strategy or approach aimed at reducing losses to the lowest possible level under adverse conditions.

Total Revenue

The cumulative income produced from the primary business operations of a company, manifesting from goods or service sales.

Total Cost

The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.