ANOVA table
Post hoc analysis
Tukey simultaneous comparison t-values
The Excel/MegaStat output given above summarizes the results of a one-way analysis of variance in an attempt to compare the performance characteristics of four brands of vacuum cleaners. The response variable is the amount of time it takes to clean a specific size room with a specific amount of dirt.
How many total observations were there in this experiment?
Definitions:
Completely Inelastic
A situation in which the demand or supply for a good or service is totally unresponsive to price changes.
Inelastic
Describes a condition where the demand or supply for a good or service is not significantly changed by changes in price.
Elastic
Elasticity in economics refers to the responsiveness of demand or supply to changes in price or income.
Completely Inelastic
Describes a situation where the demand or supply for a good or service does not change in response to changes in price.
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