We have three price points and three product colors and we have randomly assigned combinations of price points and colors to focus groups who have rated them on how likely they would be to purchase them. what is the simplest test we could use to see if there is any impact of price point, color, or the interaction?
two-way factorial anovaone-sample t-testchi-square test of independencerandomized incomplete block designchi-square goodness-of-fitfactor screeningchi-square with blockingmonte-carlo simulationlog the variablesquare the variableone-way anovarandomized complete block designjackknife-boostrappingone-way anova with blocking latin square designpaired t-testz-testindependent t-test with blockingindependent t-testadjust for p-value inflation

The movement of an economy from one condition to another and back again

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

For each example identify the most appropriate ctso