Given Below Are the Analysis of Variance Results from a Minitab

question 33

Multiple Choice

Given below are the analysis of variance results from a Minitab display. Assume that you want to use a 0.05 significance
level in testing the null hypothesis that the different samples come from populations with the same mean.
-Identify the value of the test statistic. $$\begin{array} { l r c c c c } \text { Source } & \text { DF } & \text { SS } & \text { MS } & \text { F } & \text { p } \\\text { Factor } & 3 & 13.500 & 4.500 & 5.17 & 0.011 \\\text { Error } & 16 & 13.925 & 0.870 & & \\\text { Total } & 19 & 27.425 & & &\end{array}$$

• A) 5.17
• B) 4.500
• C) 13.500
• D) 0.011

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Definitions:

Base Year

A specific year against which economic growth is measured, serving as a standard comparison for other years in index calculations and real values.

Real GDP

Gross Domestic Product adjusted for inflation, reflecting the value of all goods and services produced by an economy in a given year.

Inflation

A measure of the rate at which the general level of prices for goods and services is rising, leading to a decrease in purchasing power.

National Income

The total value of all goods and services produced by a country's residents and businesses, including income from abroad, over a specified period.