Information Regarding the ACT Scores of Samples of Students in Three

question 55

Essay

Information regarding the ACT scores of samples of students in three different majors is given below.
Major
$$\begin{array} { c c r } &\text { Management } & \text { Finance } & \text { Accounting } \\&28 & 22 & 29 \\&26 & 23 & 27 \\&25 & 24 & 26 \\&27 & 22 & 28 \\&21 & 24 & 25 \\&19 & 26 & 26 \\&27 & 27 & 28 \\&17 & 29 & 20 \\&17 & 28 & 20 \\&23 & & 24 \\&& & 28 \\&& & 28 \\&&&29\\\\\text { Sums}&230 & 225 & 338 \\\text { Means}&23 & 25 & 26 \\ \text { Variances}&18 & 6.75 & 933\end{array}$$
a. Set up the ANOVA table for this problem.
b. At 95% confidence test to determine whether there is a significant difference in the means of the three populations.

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Definitions:

Sales Returns

Goods returned by customers to the seller after the sale, which result in a reduction of revenue previously recognized.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the correct periods.

Periodic Inventory System

An inventory accounting system where the inventory count is physically conducted at specific intervals, typically at the end of an accounting period.

Net Method

An accounting method that records purchases and sales of inventory net of discounts at the time of transaction.