A study has been conducted to determine whether the mean spending for recreational activities during the month of August differs for residents of three cities.Random samples of 30 people were selected from each city and their spending on recreation was recorded during August.The following output was generated using Excel:
Anova: Single Factor
SUMMARY 
ANOVA 
Based on the information provided,should we conclude that the three populations (cities)have equal mean spending during August? Test at the 0.05 level of significance.
Definitions:
Compounded Monthly
A method of calculating interest where the interest earned each month is added to the principal, so that the balance doesn't merely grow, it grows at an increasing rate.
Future Value
The future value of a current asset, calculated by applying an estimated growth rate over a specific period.
Interest Rate
The percentage charged on a loan or paid on an investment, representing the cost of borrowing or the income from lending.
Rate of Return
The gain or loss made on an investment over a specified period, expressed as a percentage of the investment's initial cost.
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