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Consider the following to answer the question(s) below:
Management styles differ among organizations and may potentially affect employee job satisfaction. A sample of employees was randomly selected from each of three companies with different management styles (Authoritarian, Laissez faire and Participative) and asked to rate their level of job satisfaction on a 10-point scale (10 being the highest level of satisfaction) . The data collected and partial ANOVA results appear below.
-The P-value for this statistic turns out to be < 0.001. Therefore, at α = 0.05
Marginal Utility
The extra pleasure or benefit gained by a consumer from consuming an additional unit of a product or service.
Utility Function
A mathematical representation of how consumers rank different bundles or combinations of goods according to their level of satisfaction.
Partial Derivative
The derivative of a function of multiple variables with respect to one variable, holding the others constant.
Network Externality
A situation where the value of a product or service increases for a user when more people use it.
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