Bonferroni approach to adjust for effect of multiplicity

Assignment Help Accounting Basics

Reference no: EM131009240

An insurance company has offices in all 50 states and the District of Columbia. It plans to use an ANOVA to compare the average sales (in dollars) generated per agent among the states and DC. To simplify the analy- sis, assume that it has an equal number of agents in each state (20 per state).

(a) If se = +3,500, then how different must the average sales per agent in one state be from the average sales per agent in another state in order to be statistically significant? Use the Bonferroni approach to adjust for the effect of multiplicity.

(b) If managers of the insurance company believe that average sales per agent in most states are within about +2,000 of each other, is there much point in doing this study?

Reference no: EM131009240

Questions Cloud

What is probability that bolts on cylinder head are torqued : Among the cast aluminum parts manufactured on a certain day, 80% were flawless, 15% had only minor flaws, and 5% had major flaws. Find the probability that a randomly chosen part has a flaw (major or minor).

Summarize the article with particular emphasis : Summarize the article with particular emphasis on the specifics of the B2B model. With an eye on the article, compare how the B2B vs. B2C models operate different strategically. Relationship building is particularly important in the B2B world. How do..

Result of random variation : Assuming the ANOVA model is reasonable for these data, is this a large range in sales, or should the CEO interpret these differences as the result of random variation?

Find the volume of the solid generated by revolving : Find the volume of the solid generated by revolving the following region about the y-axis. The region in the first quadrant bounded above by the parobola y=x^2, below by the x-axis, and on the right by the line x=3.

Bonferroni approach to adjust for effect of multiplicity : If se = +3,500, then how different must the average sales per agent in one state be from the average sales per agent in another state in order to be statistically significant? Use the Bonferroni approach to adjust for the effect of multiplicity.

F-test reject this null hypothesis : State and interpret the null hypothesis tested by the F-test in the analysis of this experiment. Does the F-test reject this null hypothesis? What is the implication for management of the F-test? Assume that the data meet the required conditions.

Compute and sketch the domain of the function : Find and sketch the domain of the function f(x; y) = (4-x2-y2)(1/2) + (1-x)(1/2). Draw a contour map of the function f(x; y) = y sec x showing several level curves.

Why does apple sit at the top of both lists : Why does Apple sit at the top of both lists? How has the company used good branding and positioning strategy to achieve this result

Problem regarding the preferences of consumers : Assuming that the data meet the required condi- tions, what can we conclude from the F-test about the preferences of consumers?

User Account

All Pages