Business-related ANOVA examples
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Analysis of variance (ANOVA) is used to determine if there is a difference between the means of different populations. This is an example from a student in Prescott, Arizona. A company was trying to sell her the feed they produced by claiming that if her hens ate their feed, the hens would produce more eggs. They offered her a study to read in which they demonstrated that their feed was the best. To support this, they conducted an experiment in which they fed four different types of food, including their own, to groups of hens. They wanted to show that on average hens that ate their food produced more eggs. They used analysis of variance. Can you briefly think of any business-related examples in the drugstore industry? Can you think of any specifically related to the operations management?
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This solution provides a drugstore industry example of the use of ANOVA.
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Suppose a hospital claims that it uses inoculation drugs from three different companies to give people flu shots. In the drugstore of the hospital, three companies, viz. A, B, and ...
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