In a Two-Factor ANOVA,there Are 5 Levels for Factor A,4

question 120

True/False

In a two-factor ANOVA,there are 5 levels for factor A,4 levels for factor B,and 3 observations for each combination of factor A and factor B levels.The number of treatments in this experiment equals 20.

---

Definitions:

Economic Profits

The total revenue of a business minus its explicit and implicit costs; it’s a measure of excess above the normal levels of profits businesses earn in a competitive environment.

Long-Run Equilibrium

A state in which supply equals demand, all firms are maximizing profits, and there is no incentive for market entry or exit.

Efficient Output

The level of production at which a firm or economy can produce the maximum amount of goods at the lowest possible cost.

Efficient Output

The level of production where a firm or economy can produce the maximum amount of goods and services with the least amount of inputs.