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Test a Hypothesis Regarding Three or More Means Using One -Way ANOVA
-An industrial psychologist is investigating the effects of work environment on employee attitudes. A group of 20 recently hired sales trainees were randomly assigned to one of four different "home rooms" - five trainees per room. Each room is identical except for wall color. The four colors used were light green, light blue, gray and red. The psychologist wants to know whether room color has an effect on attitude, and, if so, wants to compare the mean attitudes of the trainees assigned to the four room colors. At the end of the training program, the attitude of each trainee was measured on a 60 -pt. scale (the lower the score, the poorer the attitude) . The data was subjected to a one-way analysis of variance. Give the null hypothesis for the ANOVA F test shown on the printout.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product in demand.
Elasticity Coefficient
A measure that quantifies how a change in one economic variable, such as price, affects the quantity demanded or supplied of another variable.
Perfectly Inelastic
A situation in demand or supply in which the quantity demanded or supplied does not change regardless of changes in price.
Quantity Demanded
The specific amount of a good or service consumers are willing to purchase at a given price.
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