Loomis, Inc

question 51

Multiple Choice

Loomis, Inc.is evaluating three possible bonus incentive programs for its sales staff.During a trial period, a sample of four sales staff was randomly assigned to each bonus program.Sales figures (in $1000) are shown below: Use the sample data to test the null hypothesis that the average sales for the three populations represented here are the same, using a significance level of 5%.Report the F value (F_stat) for the test.

• A)4.151
• B)3.236
• C)5.197
• D)2.305

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Definitions:

Probability Distribution

The function that describes the likelihood of obtaining the possible values that a random variable can take.

Likelihood of Occurrence

Likelihood of occurrence refers to the probability that a given event will happen, often used in statistics to estimate outcomes.

Parameter

A numerical characteristic that describes a statistical population; it's a fixed value, though often unknown.

Sampling Distribution

The probability distribution of a statistic based on a large number of samples or simulations.