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TABLE 11-11
A student team in a business statistics course designed an experiment to investigate whether the brand of bubblegum used affected the size of bubbles they could blow. To reduce the person-to-person variability, the students decided to use a randomized block design using themselves as blocks. Four brands of bubblegum were tested. A student chewed two pieces of a brand of gum and then blew a bubble, attempting to make it as big as possible. Another student measured the diameter of the bubble at its biggest point. The following table gives the diameters of the bubbles (in inches) for the 16 observations.
-Referring to Table 11-11, the randomized block F test is valid only if the population of diameters has the same variance for the 4 brands.
Administrative Expenses
Administrative Expenses are costs related to the general operation of a business, including expenses such as office supplies, salaries of administrative personnel, and rent.
Operating Income
Income generated from the normal business operations of a company, excluding expenses such as interest and taxes.
Purchases Returns and Allowances
Purchases Returns and Allowances is an account that tracks the reduction in costs due to returned goods or provided allowances after the purchase has been made.
Purchases Discounts
Discounts taken by the buyer for early payment of an invoice.
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