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The waiting time (in minutes) was measured for a random sample of patients with non-life threatening injuries in emergency rooms at four local hospitals who arrived between 2:00 and 3:00pm on a particular Saturday. Check the output to see whether the same-variance condition for ANOVA holds. Show your work. Is ANOVA appropriate? Source DF Adj SS Adj MS F-Value P-Value Factor 3 504.8 168.28 4.97 0.006 Error 31 1048.7 33.83 Total 34 1553.5 Analysis of Variance Means Factor N Mean StDev A 9 13.11 3.41 B 7 14.29 1.60 C 9 16.33 8.08 D 10 22.60 6.82
Marginal Cost
The additional expense faced by a business when its production volume is increased by a single unit.
Total Variable Cost
The aggregate of costs that vary in relation to the volume of output or activity, such as materials and labor expenses.
Total Fixed Cost
The sum of all costs that do not change with the level of output in the short term.
Overall Costs
The total expenses incurred in the production, operation, or realization of goods and services.
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