Question
Identify a quantitative variable (measurement) in a business/organization that has either interval or ratio level of measurement. Identify at least three meaningful groups into which
Identify a quantitative variable (measurement) in a business/organization that has either interval or ratio level of measurement. Identify at least three meaningful groups into which this measure can appropriately be divided. Obtain at least 10 observations of this variable (measurement) from each of the identified groups.
Purpose: To demonstrate the application of ANOVA in business.
EXAMPLE: A standard measure that fits these requirements might be product assembly time (time is a ratio measure); three natural groups into which this measure can be divided might be day, evening, and night shifts. ANOVA hypothesis test is applied to see if the average assembly time for a product is different among the three shifts.
Conduct the ANOVA hypothesis test using the samples (observations for each group) and discuss the findings.
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