A Large Department Store Examined a Sample of the 18

question 15

Multiple Choice

A large department store examined a sample of the 18 credit card sales and recorded the amounts charged for each of three types of credit cards: MasterCard, Visa, and Discover. Six MasterCard sales, seven Visa, and five Discover sales were recorded. The store used an ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic?

• A) 18 in the numerator, 3 in the denominator
• B) 3 in the numerator, 18 in the denominator
• C) 2 in the numerator, 15 in the denominator
• D) 6 in the numerator, 15 in the denominator

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Definitions:

Contribute

To give or supply something (such as money, resources, or ideas) towards a common purpose or fund.

Benefit

The advantage or profit gained from something, often evaluated in economic, social, or personal contexts.

Payoff

The outcome or reward from a particular action or investment, often used in the context of games, economics, and decision-making scenarios.

Strategy

A plan of action designed to achieve a long-term or overall aim, often involving the allocation of resources and decision-making processes.