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A movie critic wanted to determine whether or not moviegoers of different age groups evaluated a movie differently. With this objective, he commissioned a survey that asked people their ratings of their most recently watched movies. The rating categories were:
1 = terrible.
2 = fair.
3 = good.
4 = excellent.
Each respondent was also asked to categorise his or her age as either:
1 = teenager.
2 = young adult (20-34).
3 = middle age (35-50).
4 = senior (over 50).
The results are shown below. Use Excel to find the exact p-value for this test.
Carrying Cost
The total cost of holding inventory, including storage, handling, insurance, and opportunity costs, among others.
Warehouse Security
Measures and practices implemented to protect stored goods, inventory, and facilities from theft, damage, and other risks.
Finding Suppliers
Refers to the process of identifying and selecting vendors or manufacturers that can provide the necessary goods or services for a business.
Machinery Set-Ups
The process and cost associated with configuring and preparing industrial machinery for a specific production run.
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