Assume You Are Conducting a One-Way Analysis of Variance Using

question 132

Multiple Choice

Assume you are conducting a one-way analysis of variance using a 0.05 level of significance and have found that the p-value = 0.02.Which of the follow is correct regarding what you can conclude?

• A)Do not reject the null hypothesis;the means are all the same.
• B)Reject the null hypothesis;the means are not all the same.
• C)Do not reject the null hypothesis;the means are not all the same.
• D)Reject the null hypothesis;the means are all the same.

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Definitions:

Long-Run Average Cost Curve

A graphical representation showing the minimum average cost at which any output level can be produced when all inputs are variable in the long run.

Short-Run

A timeframe in economics where at least one input, such as capital or labor, is fixed, limiting the ability of businesses to adjust production immediately.

Tangent

In economics, it represents a point where two curves touch, often used in optimization problems to find equilibrium points.

Long Run

Refers to a period during which all factors of production and costs are variable, allowing full adjustment to production decisions.