In an Analysis of Variance Problem If SST = 120

question 47

Multiple Choice

In an analysis of variance problem if SST = 120 and SSTR = 80, then SSE is

• A)200
• B)40
• C)80
• D)120

---

Definitions:

Price Effect

The impact on consumer demand and supply of goods caused by changes in the price of a product or service.

Quantity Effect

The impact on the total quantity bought or sold in a market as a result of changes in price.

Least Elastic

Refers to the good or service with the least sensitivity to changes in price, meaning the quantity demanded or supplied changes very little with price changes.

Immediate Market Period

A very short time frame in market analysis where the supply of goods is fixed.