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SCENARIO 11-13
An important factor in selecting database software is the time required for a user to learn how to use
the system. To evaluate three potential brands (A, B and C) of database software, a company
designed a test involving five different employees. To reduce variability due to differences among
employees, each of the five employees is trained on each of the three different brands. The amount of
time (in hours) needed to learn each of the three different brands is given below:
-Referring to Scenario 11-13, the randomized block F test is valid only if the
population of the amount of time needed has the same variance for the 3 brands.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, representing surplus or loss.
Investment Return
The gain or loss on an investment over a specified period, expressed as a percentage of the investment's cost.
Interest Rate
The percentage charged by lenders to borrowers for the use of money, typically expressed at an annual rate.
Economic Profit
The difference between total revenues earned by a firm and its total opportunity costs.
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