The General Manager of a Frozen TV Dinner Maker Must

question 126

Short Answer

The general manager of a frozen TV dinner maker must decide which one of four new dinners to introduce to the market. He decides to perform an experiment to help make a decision. Each dinner is sampled by ten people who then rate the product on a 7-point scale, where 1 = poor, and 7 = excellent. The results are shown below. $\begin{array} { | c | c | c | c | c | } \hline & &{ \text { Taste Ratings } } \\\hline \text { Respondent } & \text { Dinner 1 } & \text { Dinner 2 } & \text { Dinner 3 } & \text { Dinner 4 } \\\hline 1 & 6 & 6 & 4 & 5 \\\hline 2 & 5 & 5 & 2 & 4 \\\hline 3 & 7 & 7 & 3 & 4 \\\hline 4 & 6 & 6 & 5 & 4 \\\hline 5 & 7 & 6 & 4 & 3 \\\hline 6 & 7 & 5 & 3 & 5 \\\hline 7 & 6 & 4 & 3 & 4 \\\hline 8 & 5 & 6 & 4 & 6 \\\hline 9 & 4 & 4 & 3 & 5 \\\hline 10 & 7 & 5 & 6 & 4 \\\hline\end{array}$ Using the appropriate statistical table, what statement can be made about the p-value for the test?

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Definitions:

Plant Assets

Fixed, tangible assets used in the operation of a business, such as machinery, buildings, and equipment, that have a useful life of more than one year.

Land Improvements

Enhancements made to land, such as landscaping, driveways, fences, and sidewalks, that increase the property's value.

Subdivisions

In real estate, this refers to the act of dividing land into pieces that are easier to sell or otherwise develop.

Cash Discount

A reduction in the price paid for goods or services offered to customers as an incentive for early payment.