QMB 3200 SUMMER 2023 Homework Assignment 3 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. You will use your student data set (cars) to run all analyses. Once you have submitted your document to Canvas, CHECK and make sure you submitted the correct file. 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 prices of your three vehicle models. Insert a screenshot of the Printout. 6 points. b. Is there a significant difference between the means (just state yes or no)? 3 points. 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 Printout. 6 points. d. State what homogeneous group each of your vehicles was in (For example: Toyota RAV4=A, Nissan Altima and Honda Accord=B). 3 points. e. List your vehicle models (use vehicle names, not numbers!) in order from that with the highest mean price to that with the lowest mean price, being sure to indicate any “ties” (For example: Toyota RAV4, Nissan Altima/Honda Accord tied. 3 points. Part 2. a. Imagine that you have reason to believe that the majority of used vehicles for sale are newer cars (produced in the year 2016 or after). Test this assumption with a binomial test of proportions. Insert your Printout. 6 point. b. Interpret the results of the above analysis, stated as covered in class (For example: There is (in)sufficient evidence at alpha = .05 to indicate that a minority of Florida consumers are optimistic about the economy. 3 points.
