In a One-Way ANOVA, If the Null Hypothesis Is H₀

question 7

Multiple Choice

In a one-way ANOVA, if the null hypothesis is H₀: μ1 = μ2 = μ3 = μ4, then the alternative hypothesis is:

• A) Ha: μ1 ≠ μ2 ≠ μ3 ≠ μ4.
• B) Ha: None of the population means differs.
• C) Ha: At least two of the population means differ.
• D) Ha: At least one of the population means differs.

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Definitions:

Marginal Revenue

The additional income from selling one more unit of a good or service.

Marginal Cost

The hike in overall costs when one extra unit of a product or service is produced.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing surplus remaining after all costs have been paid.

Entry Barriers

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.