The Alternative Hypothesis for the One-Way Analysis of Variance States

question 12

Multiple Choice

The alternative hypothesis for the one-way analysis of variance states that:

• A)some of the means are statistically significant, but others are not.
• B)only one mean is different from all of the others.
• C)there is no difference between any of the means being considered.
• D)at least one of the means is different from all of the other means.

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Definitions:

Consumption

The use of goods and services by households, contributing to their living standards and economic activity.

Midpoint Formula

A method used in economics and statistics to calculate the elasticity of a variable, or the percentage change in one variable in response to a percentage change in another.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price, indicating sensitivity to price changes.

Quantity Demanded

The entire quantity of a product or service that buyers are prepared and have the capacity to buy at a given price point.