Explore BrainMass

Explore BrainMass

    Output from an Analysis of Variance to solve a Business Problem

    Not what you're looking for? Search our solutions OR ask your own Custom question.

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

    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

    Solution Preview

    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, ...

    Solution Summary

    321 words explain how ANOVA results can be useful in a business application.