A Random Sample of 25 Executives from Companies with Assets

question 87

Multiple Choice

A random sample of 25 executives from companies with assets over $1 million was selected and
Asked for their annual income and level of education. The following Excel printout summarized the
Results:

• A) Since the calculated F-value is smaller than the F-critical value, there is a significant difference in the incomes of these 3 groups.
• B) Since the calculated F-value is smaller than the F-critical value, there is no significant difference in the incomes of these three 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:

Potential Savings

The amount of money that could be saved over a period of time by making certain decisions or changes, often highlighted as an incentive.

Lifestyle Segmentation

The process of dividing the market into groups based on similarities in their lifestyles, interests, attitudes, values, and opinions to target marketing more effectively.

Psychographic Segmentation

A marketing strategy that divides a market into segments based on consumer personality traits, values, attitudes, interests, and lifestyles.

Behavioral Segmentation

The process of dividing a market into groups based on consumer behavior patterns, including product usage and decision-making processes.