TABLE 11-5 A Hotel Chain Has Identically Sized Resorts in 5 Locations

question 102

Multiple Choice

TABLE 11-5
A hotel chain has identically sized resorts in 5 locations. The data that follow resulted from analyzing the hotel occupancies on randomly selected days in the 5 locations.
-Referring to Table 11-5, what should be the decision for the Levene's test for homogeneity of variances at a 5% level of significance?

• A) Reject the null hypothesis because the p-value is smaller than the level of significance.
• B) Reject the null hypothesis because the p-value is larger than the level of significance.
• C) Do not reject the null hypothesis because the p-value is smaller than the level of significance.
• D) Do not reject the null hypothesis because the p-value is larger than the level of significance.

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Definitions:

Utility-Maximizing

The behavior or principle where individuals or entities choose options that increase their satisfaction or utility to the greatest extent.

Marginal Utility

The additional satisfaction gained from consuming an additional unit of a good or service.

Hypothetical Consumer

A theoretical or model consumer whose purchasing decisions and behavior are used to analyze the demand side of the market.

Product X

This term is unspecified and could refer to any product or item being discussed or analyzed in a specific context.