SCENARIO 12-17
Three new different models of compact SUVs have just arrived at the market.You are interested in comparing the gas mileage performance of all three models to see if they are the same.A partial computer output for twelve compact SUVs of each model is given below:
You are told that the gas mileage population distributions for all three models are not normally distributed.
-Referring to Scenario 12-17,what is your decision on the test using a 5% level of significance?
Definitions:
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan balance.
Non-interest Bearing
A financial term indicating a debt or deposit that does not accrue interest over time, identical in concept to its prior mention but explained with different wording.
Compounded Monthly
A method of calculating interest where the interest earned each month is added to the principal, compounding the amount on which future interest is calculated.
Compounded Semi-annually
The process of adding interest to the principal sum of a loan or deposit on a twice-yearly basis, resulting in interest on interest.
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