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Cindy Ho,VP of Finance at Discrete Components,Inc $\alpha$ = 005,the Appropriate Decision for Block Effects Is ___

question 27

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Cindy Ho,VP of Finance at Discrete Components,Inc.(DCI) ,theorizes that the discount level offered to credit customers affects the average collection period on credit sales.Accordingly,she has designed an experiment to test her theory using four sales discount rates (0%,2%,4%,and 6%) .First,she classified DCI's credit customers into three categories by total assets (small,medium,and large) .Then,she randomly assigned four customers from each category to a sales discount rate.An analysis of Cindy's data yielded the following ANOVA table: $Cindy Ho,VP of Finance at Discrete Components,Inc.(DCI) ,theorizes that the discount level offered to credit customers affects the average collection period on credit sales.Accordingly,she has designed an experiment to test her theory using four sales discount rates (0%,2%,4%,and 6%) .First,she classified DCI's credit customers into three categories by total assets (small,medium,and large) .Then,she randomly assigned four customers from each category to a sales discount rate.An analysis of Cindy's data yielded the following ANOVA table: Using \alpha = 0.05,the appropriate decision for block effects is ___. A) do not reject the null hypothesis \mu 1 \neq\mu 2 \neq\mu 3 B) do not reject the null hypothesis \mu 1 = \mu 2 = \mu 3 C) reject the null hypothesis \mu 1 \ge\mu 2 \ge\mu 3 D) reject the null hypothesis \mu 1 \le\mu 2 \le\mu 3 E) do nothing$
Using $\alpha$ = 0.05,the appropriate decision for block effects is ___.

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Definitions:

Null Hypothesis

A hypothesis in statistical testing that suggests there is no statistical significance between the specified sets of observations, effectively stating that any observed difference is the result of random chance.

Level of Significance

A threshold in hypothesis testing that determines whether an observed effect is statistically significant.

Diverse Individuals

People who exhibit differences in various attributes such as cultural background, race, religion, gender identity, and life experiences.

Sample Size

The number of individuals or observations included in a study, which can significantly impact the statistical power and conclusions drawn.

Cindy Ho,VP of Finance at Discrete Components,Inc α\alphaα = 005,the Appropriate Decision for Block Effects Is ___

Definitions:

Cindy Ho,VP of Finance at Discrete Components,Inc $\alpha$ = 005,the Appropriate Decision for Block Effects Is ___