A Consumer Interest Group Is Interested in Comparing the Speed

question 33

Multiple Choice

A consumer interest group is interested in comparing the speed of four different desktop printers; four different documents are used for the experiment.Each test consists of randomly assigning one printer to one of the documents.The document is printed and the time to print in seconds is recorded.Each printer/document combination is tested.Calculate MST,MSE and the F-ratio.Can you reject H0 using α = 0.05? The ANOVA table is listed below. Analysis of Variance
Source Sum-of-Squares df Mean-Square F-ratio P-value
Printer 4.862
Error 3.150
Total 8.012

• A)MST = 1.216; MSE = 0.210; F-Ratio = 5.790; No,do not reject H0 using α = 0.05.
• B)MST = 1.621; MSE = 0.263; F-Ratio = 6.163; Yes,reject H0 using α = 0.05.
• C)MST = 1.621; MSE = 0.210; F-Ratio = 7.719; Yes,reject H0 using α = 0.05.
• D)MST = 1.216; MSE = 0.263; F-Ratio = 4.641; No,do not reject H0 using α = 0.05.
• E)MST = 1.621; MSE = 0.242; F-Ratio = 6.698; Yes,reject H0 using α = 0.05.

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Definitions:

Initial Endowment

Refers to the initial amount of money, assets, or resources that an individual, firm, or country possesses before entering into any trading or production activities.

Pareto Optimal

An arrangement of resource distribution that prevents the improvement of one individual's condition without adversely affecting another individual.

Utility Function

A utility function is an economic concept that models an individual's preference ordering over a set of goods or outcomes, representing satisfaction or happiness.

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources or outcomes in a two-person (or two-good) economy, illustrating potential areas of mutual benefit through trade.