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i. To employ ANOVA, the populations should have approximately equal standard deviations.
ii. To employ ANOVA, the populations being studied must be approximately normally distributed.
iii. A technique that is efficient when simultaneously comparing more than two population means is
Known as analysis of variance (ANOVA) .
Subsidy
A financial contribution granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
Monopoly
A market structure characterized by a single seller who has exclusive control over the supply of a good or service and where entry by new competitors is obstructed.
Utility
A measure of satisfaction or happiness that a consumer derives from the consumption of goods and services.
Subsidy
A financial contribution granted by a government or other organization to support an economic activity, reduce the price of a commodity or service, or for other purpose deemed beneficial.
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