Meredith's Catering Catered a Large Party for Which the Client

question 20

Short Answer

Meredith's Catering catered a large party for which the client paid $5,500 with a credit card. If Meredith deposited $5,115 in her bank account from the party, what is the credit card company's fee?

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Definitions:

Variability Between Groups

Describes differences in variance among separate groups or categories in a dataset.

F Ratio

A statistical measure used in analysis of variance (ANOVA) to compare the variance among group means to the variance within groups.

F Test

A statistical test used to determine if there are significant differences between the variances of two or more groups.

ANOVA

Analysis of Variance, a statistical method used to compare the means of three or more samples to determine if at least one of the means is significantly different from the others.