TABLE 11-8 An Important Factor in Selecting Database Software Is the Time

question 7

True/False

TABLE 11-8
An important factor in selecting database software is the time required for a user to learn how to use the system. To evaluate three potential brands (A, B and C) of database software, a company designed a test involving five different employees. To reduce variability due to differences among employees, each of the five employees is trained on each of the three different brands. The amount of time (in hours) needed to learn each of the three different brands is given below:

Below is the Excel output for the randomized block design:

-Referring to Table 11-8, the decision made at a 0.05 level of significance on the randomized block F test for the difference in means implies that all 3 means are significantly different from each other.

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Definitions:

Interest Payments

The amount paid by a borrower to a lender as compensation for the use of borrowed funds, usually calculated as a percentage of the principal amount.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits that could have been received but were given up.

Explicit Cost

Direct, out-of-pocket payments for resources employed in the production of goods or services.

Marginal Cost

The additional cost incurred by producing and selling one more unit.