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Frank and Samantha just received a large inheritance when Samantha's grandmother passed away. Samantha said she wanted to use the money to build a room addition onto their house. Frank said he wanted to buy a more fuel-efficient car. Which of the following is true about this situation?
One-Way ANOVA
A statistical test that compares the means of three or more independent groups to determine if there is a statistically significant difference between them, based on one independent variable.
Critical Value
A point on the scale of a test statistic beyond which we reject the null hypothesis; it marks the boundary for deciding whether an observed test statistic is extreme.
Sample Size
The count of data points or observations gathered in a subset from a larger group.
Randomized Design
An experimental setup where subjects or experimental units are randomly allocated to different groups or treatments.
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