If you cut your prices by 10 percent and total revenues rise, the price elasticity of demand is
1 answer:
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Answer:
Explanation:
1) : All group means equal or
At least one of the treatment group means are different
ANOVA TABLE
<u>Source of Variation SS df MS F P-value F crit </u>
Between Groups 213.5 3 71.16667 0.65 0.5975 3.490295
Within Groups 1312.5 12 109.375
MSB = SSB / DFB = 71.16667
MSE = SSE / DFE = 109.375
F = MSB / MSE = 0.650667
3) P-value: 0.597576
The test statistic is not significant and failed to reject the null hypothesis.
4) The test statistic is not significant. So, there is no evidence to conclude that there is a difference between groups.
