A Random Sample of 30 Executives from Companies with Assets

question 2

Multiple Choice

A random sample of 30 executives from companies with assets over $1 million was selected and
Asked for their annual income and level of education. The following table summarized the results:
Using this output, what conclusions can you draw?

• A) Since the calculated F-value is smaller than the F-critical value, there is no significant difference in the incomes of these three groups.
• B) Since the calculated F-value is smaller than the F-critical value, there is a significant difference in the incomes of these 3 groups.
• C) Since the _P-value is 0.001, there is a 10% chance of these results happening when there is no significant difference in the incomes of these three groups.
• D) Since the calculated F-value is larger than the F-critical value, and the P-value is so small, there is strong evidence to suggest that all three groups with different levels of education Have the same incomes.
• E) Since the calculated F-value is larger than the F-critical value, and the P-value is so small, there is strong evidence to suggest that the three groups with different levels of education

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Definitions:

Wrongful Acts

Actions or conduct that are unlawful or infringe upon someone's rights.

MRSxy

The marginal rate of substitution (MRSxy) is the rate at which a consumer is willing to trade off one good (x) for another (y) while maintaining the same level of utility.

MUx

Marginal Utility with respect to a good or service x, representing the additional satisfaction gained from consuming one more unit of it.

Px/Py

A ratio indicating the price of one good (Px) relative to the price of another good (Py), used in economics to analyze consumer choice and purchasing power.