The Table Below Shows Units of Wheat and Cloth Produced

question 37

Multiple Choice

The table below shows units of wheat and cloth produced by each worker per day in both the countries. Table 20.1
-According to Table 20.1,the opportunity cost of producing wheat in the U.S.equals:

• A)half a unit of cloth.
• B)one-third of a unit of cloth.
• C)one-fourth of a unit of cloth.
• D)4 units of cloth.
• E)8 units of cloth

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Definitions:

Analysis of Variance

A collection of statistical models used to analyze the differences among group means by partitioning variance into multiple components.

ANOVA

Short for Analysis of Variance, a statistical method used to test differences between two or more means.

F Statistic

A value derived from ANOVA tests used to determine whether the variances between multiple groups are significantly different.

One-way ANOVA

A statistical examination aimed at finding out whether significant disparities exist among the averages of three or more distinct groups.