ach Christmas season there is a hot toy that everyone must have, - 6433

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ach Christmas season there is a hot toy that everyone must have, especially if you are under the age of nine. This prized toy can be purchased at many different types of stores. A consumer group wanted to determine if there was a difference in price for the toy depending on where the toy was purchased. Is the price of this toy the same for the different stores or is there a difference? In the Cincinnati area there are three main stores of concern: Wal-Mart, Meijer, and Toys R Us. Data was collected from different stores around the city. Prices will vary depending on the location of the store. The collected data is as follows (in dollars): 

 

Wal-MartMeijerToys R Us

151820

121719

121416

141520

131719

Conduct an ANOVA analysis of the data. Is there a significant difference between the three stores? 

A. A t-test would have been a better test.

B. There is a significant difference between the three stores.

C. The sample needs to be larger to be able to answer the question.

D. There is not a significant difference between the three stores.

 
Solution Description

Each Christmas season there is a hot toy that everyone must have, especially if you are under the age of nine. This prized toy can be purchased at many different types of stores. A consumer group wanted to determine if there was a difference in price for the toy depending on where the toy was purchased. Is the price of this toy the same for the different stores or is there a difference? In the Cincinnati area there are three main stores of concern: Wal-Mart, Meijer, and Toys R Us. Data was collected from different stores around the city. Prices will vary depending on the location of the store. The collected data is as follows (in dollars):