Qmb 3200 Fall 2023 Project Assignment 2 Solutions

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QMB 3200 Fall 2023 Project Assignment 2
Complete your work in this document in black type. Leave the existing document in the blue type it
is currently in and do not edit the document except to add your responses below each prompt.
Submit to Canvas as a single .doc or .docx file; files submitted in inaccessible formats will not be
graded. The assignment is due by Friday, Oct 20 at 5:00pm. There is a grace period through Sat
Oct 21 at 11:59pm during which you will not be penalized for late submission. Assignments
submitted after this point will be penalized 10% per day or portion of a day that it is late, for up to
three days. You will use your student data set (cars) to run all analyses.
NOTE: Make sure all your Printouts are legible without the need for a magnifying glass!
Part 1.
a. Run an ANOVA to compare the mean price of your three vehicle models. Insert a screenshot
of the Printout. (5 points)
Null Hypothesis: All three vehicle models have the same mean price.
H0 : μ1 = μ2 = μ3
Alternate Hypothesis: At least one of the three vehicle models has a different mean price that
the rest.
H1 : not all μi (i = 1,2,3)are equal
The One-Way Analysis of Variance was performed using Statisticx 10. The output is given as
follows:
b. Is there a significant difference between the means (just state yes or no)? (2 points)
Yes
c. Run a Tukey post hoc test to rank the means of the prices of the models (even if there was
not a significant difference). Insert a screenshot of your Prin …
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