One-Way Analysis of Variance Is Being Used to Test the Equality

question 80

Multiple Choice

One-way analysis of variance is being used to test the equality of four population means using a sample of size 8 from each of the four populations.The test statistic (F_stat) for the test turns out to be 3.991.The significance level is set at 5%.Report your conclusion.

• A)Since the test statistic (F_stat) is greater than the critical value (F_c) for the test, we reject the "no difference" null hypothesis.
• B)Since the test statistic (F_stat) is less than the critical value (F_c) for the test, we cannot reject the "no difference" null hypothesis.
• C)Since the test statistic (F_stat) is greater than the critical value (F_c) for the test, we cannot reject the "no difference" null hypothesis.
• D)Since the test statistic (F_stat) is less than the critical value (F_c) for the test, we reject the "no difference" null hypothesis.

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Definitions:

50th Percentile

A statistical measure indicating the value below which 50% of observations in a group fall.

Geometric Mean

The nth root of the product of n numbers, useful for determining the average rate of return over time.

Growth Factors

Elements or variables that contribute to the growth rate of an economic variable, a company, or an investment.

Atlanta

The capital city of Georgia, known for its historical sites, economic significance, and cultural diversity.