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A study was carried out to find out whether prices differed, on average, within three possible market conditions: monopoly, limited competition, and strong competition. The results were reported as F (2, 272) = 44.8. Further analysis reported that for the difference between monopoly and limited competition, F (1, 272) = 67.9 and for the difference between monopoly and strong competition, F(1, 272) = 71.3.

a. What was the total sample size used?

b. Is the overall ANOVA statistically significant?

c. Interpret the results of the further analysis. Explain.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92191104

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