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TABLE 12-19
An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants all 3 varieties of the seeds on each of 5 different patches of fields. She then measures the crop yield in bushels per acre. Treating this as a randomized block design, the results are presented in the table that follows.
Below is the Minitab output of the Friedman rank test:
Friedman Test: Yield versus Varieties, Fields
Friedman test for Yield by Varieties blocked by Fields
-Referring to Table 12-19, the decision made at a 0.01 level of significance on the Friedman rank test for the difference in medians implies that the 3 medians are not all the same.
Price Discrimination
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on their willingness to pay.
Demand
The willingness and ability of consumers to purchase goods or services at different prices.
Price
The expected fiscal outlay, necessitated, or expended in compensation for an item.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices during a certain period of time.
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