A Complete 3 X 2 Factorial Experiment Is Called Balanced

question 95

Multiple Choice

A complete 3 x 2 factorial experiment is called balanced if:

• A) factor A has three levels
• B) factor B has two levels
• C) the number of replicates is the same for each treatment
• D) the number of observations for each combination of factor A and factor B levels equal at least 5
• E) none of these

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Definitions:

Capital Demand

The desire or need for capital goods, such as machinery and tools, that are used to produce other goods and services.

Product Demand

The desire and willingness of consumers to purchase a specific quantity of goods or services at various prices during a certain period.

Labor Demand Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor that employers are willing to hire, typically downward sloping.

Monopolistic Seller

A market scenario where a single seller dominates the market, having substantial control over the prices and the supply of a product or service.