A Market Researcher Is Studying the Spending Habits of People

question 106

Multiple Choice

A market researcher is studying the spending habits of people across age groups. The amount of money spent by each individual is classified by spending category (Dining out, Shopping, or Electronics) - Factor A, and generation (Gen-X, Gen-Y, Gen-Z, or Baby Boomers) - Factor B. An incomplete ANOVA table is shown below. At the 5% significance level, the critical value for the hypothesis test about factor B is ________.

• A) 2.28
• B) 2.92
• C) 3.59
• D) 4.51

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Definitions:

Sample Mean

The average of all the data points in a sample set from a population.

Squared Deviations

The squares of the differences between each value in a set and the mean of the set, used in various statistical computations including variance.

Standard Deviation

An indicator that evaluates the degree of scatter or inconsistency in a dataset in relation to its mean.

Salespersons

Individuals who are employed to sell products or services to customers, often working on commission.