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:

Allocating Points

The process of distributing or assigning points based on certain criteria, often used in scoring systems, evaluations, or resource management.

Individual Incentive Plan

Compensation strategy designed to reward employees based on their individual performance achievements.

Piecework

A payment method based on the amount of work completed rather than the time taken, frequently used in manufacturing and agriculture.

Variable Pay

A compensation strategy that ties employee pay directly to their performance or achievements, often including bonuses, commissions, and profit-sharing plans.