A Market Researcher Is Studying the Spending Habits of People

question 115

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 The p-value for the hypothesis test about factor B is ________.

• A) less than 0.01
• B) between 0.01 and 0.025
• C) between 0.025 and 0.05
• D) greater than 0.05

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Definitions:

Annual Interest Rate

The percentage of a sum of money charged for its use, calculated on an annual basis.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, hence, eroding purchasing power.

Real Rate of Return

The rate of return on an investment after adjusting for inflation, showing the actual increase in purchasing power.

Real Rate

The interest rate adjusted for inflation, representing the real cost of borrowing or the real yield on an investment.