The Average Cost of Remodeling One Room in a House

question 77

Essay

The average cost of remodeling one room in a house was compared for four different remodeling companies.A random sample of 10 rooms remodeled by each company were selected all with the same square footage, and cost of remodeling each room was recorded.(Rooms were randomly chosen from different houses.) The data are shown below.An F-test using ANOVA concluded that average costs differ for at least two of the remodeling companies.
Use Tukey's and LSD multiple comparison methods to determine which remodeling companies differ in their average cost.Compare the results and discuss.(Keep the experimentwise Type I error at or close to 5%.)

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Definitions:

Farsighted

The ability to anticipate and consider future trends, impacts, or results in decision-making and planning.

American Managers

Individuals in the United States who are responsible for directing and overseeing the operations and employees within an organization, characterized by a particular style influenced by American culture and business practices.

Strategic Farsightedness

The ability to anticipate future trends, challenges, and opportunities and develop long-term plans to guide an organization's direction successfully.

Labor

The physical and mental effort expended by individuals in the production of goods and services.