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An economist wants to determine whether average price/earnings (P/E) ratios differ for firms in three industries. Independent samples of five firms in each industry produced
An economist wants to determine whether average price/earnings (P/E) ratios differ for firms in three industries. Independent samples of five firms in each industry produced the following results after conducting a one-way ANOVA.SSB(sum of squares between groups) = 258.82 andSST(sum of squares total) = 424.04.Based on this information, what would be the critical value used to test whether average P/E ratios differ in the three industries at the 5% level of significance. Use ourtextbookstatistical table to answer the question.
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