Explore BrainMass

Explore BrainMass

    ANOVA - Price of a toy in different stores

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A consumer organization wants to know if there is a difference in the price of a particular toy at three different types of stores. The price of the toy was checked in a sample of five discount toy stores, five variety stores, and five department stores. The results are shown below. Conduct the test by using the five-step procedure and completing ANOVA table. If you reject Ho, span confidence intervals to show which means are different. Use 0.05 level of significance.

    © BrainMass Inc. brainmass.com June 3, 2020, 9:44 pm ad1c9bdddf

    Solution Summary

    The solution includes analysis of means and variances (ANOVA) using Excel to determine if the price of the toy is significantly different in the three stores. Neat and Step-wise solution.