In Order to Compare the Life Expectancies of Three Different

question 145

Essay

In order to compare the life expectancies of three different brands of printers, eight printers of each brand were randomly selected. Information regarding the three brands is shown below.
$\begin{array}{llll}&\text { Brand A }&\text { Brand B }&\text { Brand C }\\\text { Average life in months) } & 62 & 52 & 60 \\\text { Sample variance } & 36 & 25 & 49\end{array}$
a. Compute the overall mean .
b. State the null and alternative hypotheses to be tested.
c. Show the complete ANOVA table for this test including the test statistic.
d. The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test. What do you conclude?
e. Determine the p-value and use it for the test.

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Definitions:

Family Ownership Group

A business organization where the majority of control and ownership lies within a single family, often passed down through generations.

Formal Investment Criteria

The specific guidelines or standards used by investors to evaluate potential investment opportunities.

Family Cash Investments

Funds invested by family members in a business or venture, often characterized by a more personal or relational investment criteria.

Transgenerational Entrepreneurship

Entrepreneurial activities and mindsets that are passed down through family generations, involving succession in family businesses.