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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.
Use the information above and determine a Tukey simultaneous 95 percent confidence interval for μ1 − μ2. The mean and sample sizes for brand 1 and brand 2 are as follows: = 2.95,
= 2.28, n1 = 4, and n2 = 5.
Budget Constraint
A line representing the combination of goods and services that a consumer can purchase with a given income.
Utility Function
A mathematical representation of how consumers derive satisfaction or utility from consuming goods and services.
Goods
Tangible products or items that satisfy human wants or needs.
Budget Constraint
An economic model that represents all the combinations of goods and services that a consumer can afford with a fixed amount of income.
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