Exhibit 10-3 An Engineer Collected Data from Three Different Types of Power

question 60

Multiple Choice

Exhibit 10-3
An engineer collected data from three different types of power drills.Specifically, the engineer collected data on how long (in minutes) each type of drill would run continuously after a full battery recharge.Each drill was charged and run continuously 15 times.The reported data are contained in the following table.The engineer analyzed the data using one-way ANOVA in Excel and the results from Excel are also given below.


-Refer to Exhibit 10-3.The one-way ANOVA was used to determine if the population mean continuous run times are equal (the null hypothesis) for all three types of drills,or if all pairs of population means are not equal (the alternative hypothesis) .Which decisions could the manager make?

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Definitions:

Pure Monopolist

A market situation in which a single company or entity exclusively controls the supply of a particular good or service, with no close substitutes.

Price Discrimination

A pricing strategy where a firm sells the same product at different prices to different groups of consumers, based on their willingness to pay.

Movie Theater

A place where films are shown to the public for entertainment, typically featuring large screens and seating areas.

Electric Power Company

A business entity that generates, transmits, and distributes electricity to consumers and businesses.