A Fast Food Chain Operation Is Interested in Determining Whether

question 44

Multiple Choice

A fast food chain operation is interested in determining whether the mean per customer purchase differs by day of the week. To test this, it has selected random samples of customers for each day of the week. The analysts then ran a one-way analysis of variance generating the following output: ANOVA: Single Factor Based upon this output, which of the following statements is true if the test is conducted at the 0.05 level of significance?

• A) There is no basis for concluding that mean sales is different for the different days of the week.
• B) Based on the p-value, the null hypothesis should be rejected since the p-value exceeds the alpha level.
• C) The experiment is conducted as an unbalanced design.
• D) Based on the critical value, the null should be rejected.

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Definitions:

Long-Term Liabilities

Obligations that are not due or payable for a long time, usually for more than a year.

Net Sales

The total revenue from sales reduced by returns, allowances, and discounts.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overhead, payroll, taxation, and interest payments.

Cost of Goods Sold

The total direct costs incurred in producing goods which are sold, including materials and labor.