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At a local community college, the head of the math department is interested in determining the effects of two factors on the final exam performance.The two factors are: (1) whether the student completed all the suggested exercises (yes or no) , and (2) how many cups of coffee the student took the morning of the exam (0, 1, or 2) .Analysis of the data is summarized in the following ANOVA table: Using = .05, the conclusions are: _____________.
Socially Optimal Level
The most efficient allocation of resources that maximizes societal welfare, often referenced in discussions of public goods and externalities.
Subsidize
The act of providing financial assistance or support, often by a government to industries, businesses, or individuals, to encourage production, reduce prices, or promote economic goals.
Government
The organization, or agency through which a political unit exercises authority and performs functions and which is usually classified according to the distribution of power within it.
External Benefit
A benefit that affects parties not directly involved in a transaction, leading to positive side effects or externalities.
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