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A soft drink company is introducing a new drink and wishes to evaluate which of three different formulas will be most popular.Five people taste each of the three formulas in a random order and rate each formula's taste on a scale from 1 to 10.The results are given below.
Conduct a Friedman test at the 0.05 level of significance to determine if there are differences in consumer ratings between the three formulas.
Equity Pie
A metaphorical representation of the division of ownership among the founders and investors of a startup, indicating their respective shares.
Contributions
Voluntary gifts or payments to support a cause, project, or organization, often reflecting philanthropic intentions.
Venture Growth
The process of expansion and scaling of a startup or early-stage company, involving increases in sales, products, market reach, or team size.
Research and Development
The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.
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