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Five drivers were selected to test drive two makes of automobiles. The following table shows the number of miles per gallon for each driver driving each car. Consider the makes of automobiles as treatments and the drivers as blocks and test to see if there is any difference in the miles/gallon of the two makes of automobiles. Let α = .05.
Demand Factors
Elements that influence the quantity of a product or service consumers are willing to buy at a given price, such as income levels, tastes, and price of substitutes.
Product Price
The financial cost of obtaining a product or service.
Marginal Revenue Product
The supplementary income realized by the application of one more unit of a resource, like labor or capital.
Labor
The engagement of human physical strength and intellectual power in producing goods and offering services.
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