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TABLE 11-7
an Agronomist Wants to Compare the Crop

question 24

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TABLE 11-7
An agronomist wants to compare the crop yield of 3 varieties of chickpea seeds. She plants 15 fields, 5 with each variety. She then measures the crop yield in bushels per acre. Treating this as a completely randomized design, the results are presented in the table that follows.
 Trial  Smith  Walsh  Trevor 111.119.014.6213.518.015.7315.319.816.8414.619.616.759.816.615.2\begin{array} { c r r r } \text { Trial } & \text { Smith } & \text { Walsh } & \text { Trevor } \\\hline 1 & 11.1 & 19.0 & 14.6 \\2 & 13.5 & 18.0 & 15.7 \\3 & 15.3 & 19.8 & 16.8 \\4 & 14.6 & 19.6 & 16.7 \\5 & 9.8 & 16.6 & 15.2\end{array}
-Referring to Table 11-7, the test is valid only if the population of crop yields has the same variance for the 3 varieties.

Assess the financial risk based on liabilities, assets, and equity.
Understand the steps involved in processing financial transactions.
Understand the concept of decision-making under risk and uncertainty, including aggressive and conservative strategies.
Calculate and interpret expected payoffs and expected values in decision-making contexts.

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