A Market Researcher Is Studying the Spending Habits of People

question 44

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 A 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:

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring from about 7 to 12 years of age, where children gain the ability to think logically about concrete events.

Formal Operational

The stage in Piaget's theory of cognitive development where individuals are able to think abstractly, logically, and systematically.

Preoperational

A stage in Jean Piaget's theory of cognitive development, where children from 2 to 7 years old develop memory and imagination, but do not yet think logically.

Nurture

The influence of external factors like environment, education, and social experiences on the development of an individual.