Exhibit 13

question 10

Multiple Choice

Exhibit 13.8 A market researcher is studying the spending habits of people across age groups.The amount of money spent by each individual is classified by spending category (Dining out,Shopping or Electronics) and generation (Gen-X,Gen-Y,Gen-Z or Baby Boomers) .The data and an incomplete ANOVA table are shown below. Refer to Exhibit 13.8.At the 5% significance level,the critical value for the test about the interaction is:

• A)2.04
• B)2.51
• C)2.99
• D)3.67

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Definitions:

Point Estimate

A single value or statistic used to estimate the parameter of a population.

Daily Production

The total quantity or volume of goods and services produced within a single day by a company, industry, or economic sector.

Population

The complete set from which data or individuals are drawn for statistical measurement or analysis, distinguishable by specific characteristics.

Interval Estimate

An estimate of a population parameter that provides a range of values instead of just a single point.