Reference no: EM131381250
Discuss the context in which given Example can be analyzed by using a random-effects model.
Example
There are claims that the Japanese have now joined the English and people in the United States in paying top dollar for paintings at art auctions. Suppose that an art dealer is interested in testing two hypotheses. The first is that paintings sell for the same price, on average, in London, New York, and Tokyo. The second hypothesis is that works of Picasso, Chagall, and Dali sell for the same average price. The dealer is also aware of a third question.
This is the question of a possible interaction between the location (and thus the buyers: people from the United States, English, Japanese) and the artist. Data on auction prices of 10 works of art by each of the three painters at each of the three cities are collected, and a two-way ANOVA is run on a computer. The results include the following: The sums of squares associated with the location (factor A) is 1,824.
The sum of squares associated with the artist (factor B) is 2,230. The sum of squares for interactions is 804. The sum of squares for error is 8,262. Construct the ANOVA table, carry out the hypothesis tests, and state your conclusions.
|
Leadership in the global environment
: Effective global leaders must be able to recognize current and future trends in their industry and determine the best ways to address those trends. This assignment lets you apply the leadership theories you have studied to global business trends. ..
|
|
Determine the magnitude of that resultant
: A short cantilever beam is subjected to three forces. If F = 8 kN, determine the value of ? that minimizes the magnitude of the resultant of the three forces. Also, determine the magnitude of that resultant.
|
|
Explain the effect of the economic condition of the country
: Choose one major world economy from the list below. Analyze the effect of the economic condition of the country of your choice on the world in general and specifically how it has affected a country of your choice.
|
|
Write job descriptions for exempt position
: Nonexempt positions are usually covered by job descriptions, but it is neither necessary nor appropriate to write job descriptions for exempt position.
|
|
Construct the anova table carry out the hypothesis tests
: The sum of squares associated with the artist (factor B) is 2,230. The sum of squares for interactions is 804. The sum of squares for error is 8,262. Construct the ANOVA table, carry out the hypothesis tests, and state your conclusions.
|
|
Most efficient or effective way of selecting a seller
: Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a sel..
|
|
What are the limitations of two way anova
: What are the reasons for conducting a two-way analysis rather than two separate one-way ANOVAs? Explain.- What are the limitations of two-way ANOVA? What problems may be encountered?
|
|
Enterprise rent-a-car case study
: The Final Project: Enterprise Rent-A-Car Case Study is due in Module 8. To help you prepare for the project, review the information on the following web page
|
|
What is the expected winning for one roll of the die
: In a dice game, one fair die is used. The player wins $10 if he rolls either a 1 or a 6. He loses $5 if he turns up any other face. What is the expected winning for one roll of the die
|