Instruction 11-6
as Part of an Evaluation Program,a Sporting Goods

question 112

True/False

Instruction 11-6
As part of an evaluation program,a sporting goods retailer wanted to compare the downhill coasting speeds of four brands of bicycles.She recorded three trials of each brand and determined their maximum downhill speeds.The results are presented in kilometres per hour in the table below.
$\begin{array}{lcccc}\text { Trial } & \frac{\text { Barth }}{} & \frac{\text { Tomado }}{} & \frac{\text { Reiser }}{} & \frac{\text { Shaw }}{} \\1 & 43 & 37 & 41 & 43 \\2 & 46 & 38 & 45 & 45 \\3 & 43 & 39 & 42 & 46\end{array}$
-Referring to Instruction 11-6,based on the Tukey-Kramer procedure with an overall level of significance of 0.05,the retailer would decide that the three means other than the mean for Tornado are not significantly different from each other.

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Definitions:

Mean Reversion

The financial theory suggesting prices and returns eventually move back towards the mean or average.

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The difference between a firm's total revenues and its total costs, including both explicit and implicit costs.

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A coastal city in the U.S. state of California, known for its beaches, parks, and warm climate.

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The capital city of the U.S. state of Tennessee, known for its vibrant music scene, particularly in country and western music.