A Study Was Conducted to Determine If Differences in New

question 116

Multiple Choice

A study was conducted to determine if differences in new textbook prices exist between on-campus bookstores,off-campus bookstores,and Internet bookstores.To control for differences in textbook prices that might exist across disciplines,the study randomly selected 12 textbooks and recorded the price of each of the 12 books at each of the three retailers.You may assume normality and equal-variance assumptions have been met.The partially completed ANOVA table based on the study's findings is shown here: Complete the ANOVA table by filling in the missing sums of squares,the degrees of freedom for each source,the mean square,and the calculated F-test statistic for each possible hypothesis test.

• A)Textbooks df = 11,MSBL = 1,511.3,F (Textbooks)= 40.05,Retailer df = 2,MSB = 1.2, ,SSW = 851.2,Error df = 22,MSW = 38.7,Total df = 35
• B)Textbooks df = 11,MSBL = 1,511.3,F (Textbooks)= 39.05,Retailer df = 2,MSB = 1.2, ,SSW = 851.2,Error df = 22,MSW = 38.7,Total df = 35
• C)Textbooks df = 12,MSBL = 1,511.3,F (Textbooks)= 39.05,Retailer df = 2,MSB = 1.2, ,SSW = 851.2,Error df = 22,MSW = 38.7,Total df = 36
• D)Textbooks df = 11,MSBL = 1,511.3,F (Textbooks)= 39.05,Retailer df = 2,MSB = 1.2,

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Definitions:

Losses

The negative financial result from business activities when costs exceed revenues.

Demand

The total quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period.

Supply

The total amount of a product or service that is available to consumers.

Rents

Payments made for the use of property or land; in economics, it also refers to earnings in excess of the minimum amount needed to keep a factor of production in its current use.