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Suppose that I am the efficiency-control manager at a fast-food restaurant. Part of my job is to determine how long it takes to get orders to our customers. I want to know whether our efficiency changes across all 100 of our restaurants over a 6-month period. I collect data to figure out the average length of time it takes to get orders to customers at the beginning of the 6-month period, three months into the study period, and at the end of the 6-month period. I get the following data (in seconds per order):
a. Create a line graph to represent the data presented in the table above.
b. Interpret this graph. What does it tell you?
c. Now that I have seen my results and they suggest that we got slower in the middle of the study, I want to know whether this slow-down was consistent across the different regions where we have restaurants. So suppose I divide the restaurants into those in the east coast of the United States and those on the west coast. I get the following results:
Create a line graph of these means.
d. What is the between-subjects variable in this mixed-model ANOVA?
e. Looking at the data presented in the table and figure above, do you think there is a time X region interaction on the dependent variable?
f. Suppose that the ANOVA results produced a value for the interaction between Time of Assessment and Seconds per order of F(2,98) = 4.36. Using an alpha level of .05, is this a statistically significant interaction?
Equilibrium Interest Rate
The interest rate at which the demand for funds equals the supply of funds, balancing savings with investment in the economy.
Loanable Funds Demanded
The total amount of funds sought after by borrowers in the financial market at a given interest rate.
Interest Rate
The percentage of an amount of money charged for its use per period of time.
Investment Projects
Initiatives requiring capital investment aimed at generating economic returns over time, such as infrastructure development, real estate, or new product development.
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