Discuss,with Examples,the Three Categories of Innovations and the Potential Effect

question 10

Essay

Discuss,with examples,the three categories of innovations and the potential effect on consumers.

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Definitions:

Experimental Plan

A detailed strategy designed to test a hypothesis in a controlled environment.

Completely Randomized Design

An experimental design where subjects are randomly assigned to treatments, ensuring that each treatment group is statistically equivalent at the start of the experiment.

Randomized Block Design

An experimental design that groups subjects into blocks based on certain variables to control the variables' effect on the experiment, and randomly assigns treatments within those blocks.

F-distribution

A statistical distribution used in the analysis of variance, among other tests, characterized by two parameters that determine its shape.