In Our Company the Figure for Total Sales Is Quite

question 48

Multiple Choice

In our company the figure for total sales is quite satisfactory,but it does not show that sales are declining in a certain product line or territory.This situation:

• A)Is an example of the 80-20 principle.
• B)Indicates a well-managed company.
• C)Tells us that we did a poor job of sales forecasting.
• D)Illustrates the need for detailed sales information.
• E)Suggests that we drop that product or territory.

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Definitions:

F Ratio

A statistical measure used in analysis of variance (ANOVA) to compare the variance among group means to the variance within groups.

F Test

A statistical test used to determine if there are significant differences between the variances of two or more groups.

ANOVA

Analysis of Variance, a statistical method used to compare the means of three or more samples to determine if at least one of the means is significantly different from the others.

T Test

A statistical test used to determine if there is a significant difference between the means of two groups.