I to Employ ANOVA, the Populations Should Have Approximately Equal

question 2

Multiple Choice

i. To employ ANOVA, the populations should have approximately equal standard deviations.
ii. To employ ANOVA, the populations being studied must be approximately normally distributed.
iii. The least number of sources of variation in ANOVA is two.

• A) (i), (ii) and (iii) are all correct statements
• B) (i) and (ii) are correct statements, but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) All statements are false

---

Definitions:

Perfect Competition

A market structure characterized by a large number of small firms, identical products sold by all firms, freedom of entry and exit, and perfect information about prices and products.

P = MC

The condition where the price of a good equals its marginal cost, representing an equilibrium in perfect competition markets.

Technological Progress

The advancement in technology which increases production efficiency and leads to economic growth.

Demand for Labor

The total amount of labor that employers want to hire at various wage rates.