How would you apply the output from an Analysis of Variance (ANOVA) to solve a business problem? Please provide an example to show your reasoning.© BrainMass Inc. brainmass.com March 4, 2021, 8:16 pm ad1c9bdddf
ANOVA hypothesis testing is a very effective tool that is used in almost all business applications these days to predict with a reasonable level of confidence whether a particular assertion will come out to be true or not. The assertion usually goes into the alternative hypothesis, and the negation of the alternative hypothesis becomes the null hypothesis. A carefully selected test statistic is then used to make predictions about the entire population, ...
321 words explain how ANOVA results can be useful in a business application.