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

question 114

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 randomized block F test is valid only if the population of the amount of time needed is normally distributed for the 3 brands.

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Definitions:

Economic Profit

The profit a company makes after deducting both its explicit (direct) and implicit (opportunity) costs; it's a more comprehensive measure than accounting profit.

Allocative Efficiency

The optimal distribution of resources in a market where goods and services are dispensed according to consumer preferences.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for significant competition but with some control over prices.