Refer to the Following Partial ANOVA Results from Excel (Some

question 46

Multiple Choice

Refer to the following partial ANOVA results from Excel (some information is missing) . $$\begin{array} { | l | c | c | c | c | } \hline \text { Source of Variation } & S S & d f & M S & F \\\hline \text { Nozzle setting } & 3.46722 & 1 & 3.46722 & 4.87198 \\\hline \text { Pressure level } & 8.07444 & & 4.03722 & 5.67291 \\\hline \text { Interaction } & 2.80779 & 2 & 1.40389 & 1.97268 \\\hline \text { Error } & 8.54000 & & 0.711667 & \\\hline \text { Total } & 22.8894 & & & \\\hline\end{array}$$ The form of the original data matrix is:

• A)3 × 1 table.
• B)1 × 2 table.
• C)4 × 3 table.
• D)2 × 3 table.

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Definitions:

Marginal Costs

The additonal cost incurred by producing one more unit of a product or service.

Elasticity of Demand

The elasticity of demand measures how responsive the quantity demanded of a good or service is to a change in its price, indicating the sensitivity of consumers to price changes.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different customers.

Natural Monopoly

A market condition in which a single firm can supply a product or service to an entire market at a lower cost than could two or more firms, often due to economies of scale.