A Two-Factor Analysis of Variance Is Conducted to Test the Effect

question 15

Multiple Choice

A two-factor analysis of variance is conducted to test the effect the price and advertising have on sales of a particular brand of bottled water.Each week a combination of particular levels of price and advertising are used and the sales level is recorded.The computer results are shown below. ANOVA
Based on the results above,which of the following is correct?

• A)1 level of advertising and 2 levels of price were used.
• B)3 levels of adverting and 2 levels of price were used.
• C)2 levels of advertising and 3 levels of price were used.
• D)There were a total of 6 different treatments.

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Definitions:

Plausible

Seeming reasonable or probable under the circumstances.

Production Function

A mathematical model that describes the relationship between inputs used in production and the resultant output.

Maximum Output

The highest amount of production that a company can achieve within a given period with the available resources.

Inputs

The resources, materials, and labor that are used in the production process to create goods and services.