The Test Statistics for One-Way ANOVA Is $F = \frac { \text { variance between samples } } { \text { variance within samples } }$

question 177

Essay

The test statistics for one-way ANOVA is $F = \frac { \text { variance between samples } } { \text { variance within samples } }$ .
Describe variance .
within samples and variance between samples. What relationship does variance within
samples and variance between samples would result in the conclusion that the value of F is
significant?

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Definitions:

Average Collection Period

The average number of days it takes a company to collect payments from its credit sales.

Credit Sale

A transaction where the payment for the purchased goods or services is deferred to a future date.

Credit Applicant

A Credit Applicant is an individual or business entity that applies for a loan or line of credit from a lending institution.

Credit Agencies

Organizations that assign credit ratings for issuers of certain types of debt securities, with the ratings based on the issuer's ability to pay back debt.