The Reason(s)why a One-Way ANOVA Is Used to Compare 3

question 3

Multiple Choice

The reason(s) why a One-way ANOVA is used to compare 3 or more means and not several t-tests is because:

• A)It is too time consuming
• B)It does not take into account variance
• C)Increases the chance of a Type I error
• D)Both a & b are correct
• E)Both a & c are correct

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Definitions:

Bundled Sales

A marketing strategy where multiple products or services are packaged together and sold at a single price.

Lump-sum Contract

A type of contract in which all work is agreed to be completed for a single, fixed price, regardless of the actual costs incurred.

Recognized Up Front

The practice of recording or acknowledging revenue or expenses immediately at the time of a transaction.

Franchisor

A business entity that grants the license to a third party for the conducting of a business under the franchisor's marks.