Case Study: Applying a Completely Randomized Design (Detecting Changes in Consumer Comfort)
In a study conducted to investigate browsing activity by shoppers, each shopper was initially classified as a nonbrowser, light browser, or heavy browser. For each shopper, the study obtained a measure to determine how comfortable the shopper was in a store. Higher scores indicated greater comfort. Suppose the following data were collected:
Nonbrowser Light Browser Heavy Browser
4 5 5
5 6 7
6 5 5
3 4 7
3 7 4
4 4 6
5 6 5
4 5 7
Using a .05 level of significance, conduct a completely randomized design hypothesis test, followed by a post-hoc comparison test if you rejected the null hypothesis. Please provide the 5 steps for both the main effect and the post-hoc test (if required), the Minitab output for each hypothesis test, and state the business implication based upon your analysis. You must use Minitab and the 5 step hypothesis testing process.
Here’s an example of reporting results in APA style:
An one way analysis of variance showed that the effect of noise was significant, F(3,27) = 5.94, p = .007. Post hoc analyses using the Tukey post hoc criterion for significance indicated that the average number of errors was significantly lower in the white noise condition (M = 12.4, SD = 2.26) than in the other two noise conditions (traffic and industrial) combined (M = 13.62, SD = 5.56), F(3, 27) = 7.77, p = .042.
Use this prototype to report results:
A one way analysis of variance showed that the effect of fill in the effect description was/was not significant, F(fill in num and denom df , ) = fill in observed F, p = fill in p-value. Post hoc analyses using the Tukey post hoc criterion for significance indicated that describe any differences and provide the M and SD, F(fill in the df for numerator and denominator) = fill in observed F, p = fill in p-value.
To conduct this test in Minitab, please use the following process:
Stack the data in columns as given above. To begin a one-way ANOVA with Stacked Data, select Stat from the menu bar. Select ANOVA from the pulldown menu. Select One-Way. In the slot Response, list the column containing the observations. In the slot Factor, list the column containing the group identifiers. For multiple comparisons, select Comparisons and make your selection from the dialog box that appears. The multiple comparison options are Tukey’s, Fisher’s, Dunnett’s, or Hsu’s MCB tests. In the multiple comparison dialog box, you can insert the family error rate in the box on the right as a whole number.
In: Statistics and Probability
Stock A and stock B both follow geometric Brownian motion. Changes in any short interval of time are uncorrelated with each other. Does the value of a portfolio consisting of ONE of stock A and TWO of stock B follow geometric Brownian motion? Explain your answer.
In: Finance
Recent landscape changes in accounting and auditing developed from corporate fraud and, arguably, auditor failure. In order to continually lead and adapt to the dynamics of regulation, principles based accounting practices and auditing standards, what types of skills and traits are auditors required to possess?
In: Accounting
Expansionary Fiscal Policy relies on changes in tax collections and government spending to achieve a non-inflationary level of employment. Given this definition what actions and projected consequences did President Obama enact to realize this goal. Include in your discussion economic conditions that existed prior to the 2008 election, i.e. the mortgage/real estate crisis, employment & unemployment, provisions President Obama used to offset the economic conditions, projected benefits vs projected detriments to the economy. Be sure to include your conclusion on whether you believe that President Obama was correct or not. Can you please answer this question specifically? Thank you
In: Economics
Discuss at least 3 symptoms caused by physiologic changes and consequences of hypertension. Discuss how pharmaceutical treatments are designed to alleviate those symptoms. What are the risks and benefits of these treatments? What are the potential drug interactions with these medications? What added therapy would you consider if the patient's hypertension were complicated by heart failure? What therapies would you avoid? What patient education is needed in terms of compliance and expectations of medications prescribed
In: Nursing
The researcher changes the exam, slightly, every few years. Therefore, the researcher prefers to measure exam performance in an ordered fashion. He notes the highest score as 1st, the second highest score as 2nd, and so on for all 50 students.
Is exam performance in this study a continuous or discrete
measurement?
Is exam performance a nominal, ordinal, interval, or ratio
measurement? Why?
In: Statistics and Probability
The researcher changes the exam, slightly, every few years. Therefore, the researcher prefers to measure exam performance in an ordered fashion. He notes the highest score as 1st, the second highest score as 2nd, and so on for all 50 students.
Is exam performance in this study a continuous or discrete
measurement?
Is exam performance a nominal, ordinal, interval, or ratio
measurement? Why?
In: Statistics and Probability
You found that changes in an index fund occur within weeks of specific macroeconomic announcements (i.e. good news are followed by a slow increase in the fund’s price, while bad news are followed by slow decreases in price). Is this market efficient? What forms of market efficiency are violated?
In: Finance
| The following changes took place last year in Pavolik Company’s balance sheet accounts: |
| Asset and Contra-Asset Accounts | Liabilities and Equity Accounts | ||||||
| Cash | $ | 30 | D | Accounts payable | $ | 92 | I |
| Accounts receivable | $ | 34 | I | Accrued liabilities | $ | 34 | D |
| Inventory | $ | 78 | D | Income taxes payable | $ | 39 | I |
| Prepaid expenses | $ | 29 | I | Bonds payable | $ | 284 | I |
| Long-term investments | $ | 31 | D | Common stock | $ | 136 | D |
| Property, plant, and equipment | $ | 545 | I | Retained earnings | $ | 112 | I |
| Accumulated depreciation | $ | 112 | I | ||||
| D = Decrease; I = Increase. |
|
Long-term investments that had cost the company $31 were sold during the year for $66, and land that had cost $65 was sold for $34. In addition, the company declared and paid $28 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock. |
| The company’s income statement for the year follows: |
| Sales | $ | 1,320 | ||
| Cost of goods sold | 586 | |||
| Gross margin | 734 | |||
| Selling and administrative expenses | 520 | |||
| Net operating income | 214 | |||
| Nonoperating items: | ||||
| Loss on sale of land | $ | (31) | ||
| Gain on sale of investment | 35 | 4 | ||
| Income before taxes | 218 | |||
| Income taxes | 78 | |||
| Net income | $ | 140 | ||
| The company’s beginning cash balance was $148 and its ending balance was $118. |
| Required: |
| 1. |
Using the indirect method, determine the net cash provided by / used in operating activities for the year. (List any deduction in cash and cash outflows as negative amounts.) |
| 2. |
Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) |
In: Accounting
The researcher changes the exam, slightly, every few years. Therefore, the researcher prefers to measure exam performance in an ordered fashion. He notes the highest score as 1st, the second highest score as 2nd, and so on for all 50 students.
Is exam performance in this study a continuous or discrete
measurement?
Is exam performance a nominal, ordinal, interval, or ratio
measurement? Why?
In: Statistics and Probability