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A teacher in a school was interested in examining the differences in children's maths scores across a year group, which consisted of three classes. She was particularly interested in whether the class the child was in had a possible influence on the child's maths score. She ran an ANOVA with the predictor variable 'class', which had three categories, 'Yellow Class', 'Green Class' and 'Purple class'; the outcome variable was 'maths score'. Her ANOVA had an F-statistic of 4.23 (p 0.68) . How would you interpret her findings?
Marginal Cost
The financial impact of producing an additional unit of a product or service.
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Total Variable Cost
Total Variable Cost is the sum of all costs that vary with the level of production or output, including materials, labor, and other expenses that change in proportion to activity.
Fixed Cost
Fixed cost refers to expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.
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