A Random Sample of 30 Executives from Companies with Assets

question 40

Multiple Choice

A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The mean square error (MSE) was 243.7. The following table summarized the results : When comparing the mean annual incomes for executives with a high school education or less and those with an undergraduate degree,the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that ________.

• A)there is no significant difference between the two incomes
• B)the interval contains a difference of zero
• C)executives with an undergraduate degree earn significantly more than executives with a high school education or less
• D)executives with an undergraduate degree earn significantly less than executives with a high school education or less

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Definitions:

Customer Retention

Strategies and activities a business employs to keep its customers engaged and reduce customer turnovers.

Cognitive Dissonance

A psychological phenomenon that occurs when a person holds contradictory beliefs, ideas, or values, leading to psychological stress or discomfort.

Selective Exposure

The process of allowing only a portion of the information revealed to be organized, interpreted, and permitted into awareness.

Benefits Important To The Prospect

Features or aspects of a product or service that are particularly valued or needed by a potential client or customer.