The Manager of a Grocery Store Wants to Determine If $\alpha = 0.05$

question 23

Essay

The manager of a grocery store wants to determine if there is a difference in the amount of money that the store brings in at different times of the day for different days of the week. The amount of money spent by five randomly selected customers is listed below. Analyze the data using a two-way ANOVA at $\alpha = 0.05$ . $$\begin{array} { c | c c } & \text { Wednesday } & \text { Saturday } \\\hline \text { Morning } & 85 & 175 \\& 120 & 112 \\& 65 & 78 \\\text { Afternoon } & 95 & 130 \\& 60 & 80 \\& 110 & 160 \\& 150 & 150 \\\multirow{5}{*} { \text { Evening } } & 99 & 148 \\& 120 & 152 \\& 100 & 120 \\& 50 & 65 \\& 53 & 85 \\& 26 & 72 \\& 48 & 83 \\& 23 & 59\end{array}$$

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts to check the arithmetic accuracy of the accounts.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, typically including the balance sheet, income statement, and cash flow statement.

Balance Sheet

A report detailing a business's assets, liabilities, and equity held by shareholders at a certain moment.

Revenue

The total amount of money received by a company from its business activities, such as sales of goods or services, before any expenses are subtracted.