A Market Researcher Is Studying the Spending Habits of People

question 9

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) and generation (Gen-X, Gen-Y, Gen-Z, or Baby Boomers) . The data and an incomplete ANOVA table are shown below. At the 5% significance level, the conclusion for the hypothesis test about the interaction term is ________.

• A) do not reject the null hypothesis; there is evidence of an interaction effect between spending category and generation
• B) reject the null hypothesis; there is evidence of an interaction effect between spending category and generation
• C) reject the null hypothesis; there is no evidence of an interaction effect between spending category and generation
• D) do not reject the null hypothesis; there is no evidence of an interaction effect between spending category and generation

---

Definitions:

Information Asymmetry

A situation where one party in a transaction has more or better information than the other, leading to an imbalance of power.

Goal Displacement

The phenomenon whereby the primary goal is overshadowed by secondary goals, often leading to a shift in focus or purpose.

Resource Dependency

A theory suggesting that organizations are in constant need of resources from their environment and must manage dependencies and relations with other entities to obtain these resources.

Consumer Misunderstanding

Occurs when consumers have an incorrect perception or comprehension of a product, its benefits, or its terms.