The Marketing Department of a Company Has Designed Three Different $\alpha$

question 115

Essay

The marketing department of a company has designed three different boxes for its product. It wants to determine which box will produce the largest amount of sales. Each box will be test marketed in five different stores for a period of a month. Below you are given the information on sales.
a.State the null and alternative hypotheses.
b.Construct an ANOVA table.
c.What conclusion do you draw?
d.Use Fisher's LSD procedure and determine which mean (if any) is different from the others. Let $\alpha$ = 0.01.

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Definitions:

Price of Y

Refers to the cost associated with acquiring or purchasing a specific good or service, denoted as "Y."

Budget Constraint

A financial limitation that defines the combination of goods and services an individual can afford to purchase given their income and the prices of those goods and services.

Income

The financial gain acquired by an individual or a company, which is typically calculated on an annual basis and obtained through work, investments, or business operations.

Nuts

Plant-derived kernels rich in fats, protein, and other nutrients, typically consumed raw or roasted.