Consider the Following to Answer the Question(s)

question 14

Multiple Choice

Consider the following to answer the question(s) :
An advocacy group is interested in determining if gender (1 = Female, 2 = Male) affects executive level salaries. They take a random sample of executives in three different industries: (1 = Consumer Goods, 2 = Financial, 3 = Health Care) . Salary data are collected. The two-way ANOVA results appear below.
-Which of the following statements is true?

• A) This is an experiment.
• B) This is an observational study.
• C) This is a randomized block design.
• D) This is an experimental study involving a randomized block design.
• E) This is an observational study involving a randomized block design.

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Definitions:

Market Price

The market price is the current price at which an asset or service can be bought or sold in a given market.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Willing to Pay

The maximum price at which a consumer values a good or service enough to purchase it.