An Analysis of Variance (ANOVA)differs from a Test for Independent

question 24

Multiple Choice

An analysis of variance (ANOVA) differs from a test for independent means (t test) in that an ANOVA:

• A)is usually used to compare the means of two groups but a t test is used to compare three groups
• B)is used to compare the means of three or more groups whereas a t test is used to compare two groups
• C)is conducted before the experiment whereas a t test is conducted after the experiment
• D)figures variances as part of the analysis whereas a t test does not figure variances

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Definitions:

Uncertain Income

Income that is not guaranteed or fixed, often subject to fluctuations due to various factors such as employment status, market conditions, or performance.

Marginal Utility

The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.

Income

The money received, typically on a regular basis, for work or through investments.

Utils Per Dollar

A hypothetical measurement of the utility or satisfaction a consumer gains from spending one dollar on a good or service.