Suppose you are a manager for a local clothing store. You want to introduce a newproduct for an upcoming holiday. You design 8 new products, and take a sample of16 customers per product design, to determine if any of the products provide adifferent value to consumers through a rating system. Your one-way ANOVA testreveals a SSTotal of 8762, along with a sum of squares between treatments (SST) of1204. Using this information, conduct the appropriate one-way ANOVA test, with asignificance level of 1%, to determine if any of the products provide a significantlydifferent value to consumers (significantly different average rating). What is thecorrect result of your analysis?We cannot say that there is a significant difference in value to consumersbetween the products on average, since the F-statistic of the analysis is smallerthan the critical value.We cannot say that there is a significant difference in value to consumersbetween the products on average, since the F-statistic of the analysis is greaterthan the critical value.At least one of the products provides significantly different value to consumerson average, since the F-statistic of the analysis is smaller than the critical value.At least one of the products provides significantly different value to consumerson average, since the F-statistic of the analysis is greater than the critical value.

The number of new products is 8.

Answered: Suppose you are a manager for a local…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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