Banks Have a Lot of Competition Locally in Addition to Competing

question 14

Multiple Choice

Banks have a lot of competition locally in addition to competing with online banks. This concept applies to ____________.

• A)Bargaining power of buyers
• B)Bargaining power of suppliers
• C)Threat of entry of new competitors
• D)Threat of substitute products or services

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Definitions:

Tukey-Kramer

A statistical test used to find differences between groups’ means while controlling for type I error.

Multiple Comparison Procedure

A statistical method used to evaluate differences among group means after an ANOVA, controlling for the error rate.

Significantly Different

A statistical term used to describe a result that is unlikely to have occurred by chance alone, as determined by a predetermined significance level.

ANOVA

Short for Analysis of Variance, a statistical method used to compare means of three or more samples.