Use Megastat and Data Analysis to substantiate your answers ANOVA: It has 5 phar

Question

Use Megastat and Data Analysis to substantiate your answers ANOVA: It has 5 pharmaceutical firms that produce 9 types of generics. Consumers want to know that the company has on average higher prices for not buying their products. Prices (US dollar) are presented below: The variability between samples (CMTRs). Use the appropriate formula. The variability within samples (CME). Use the appropriate formula. The F-calculated (test statistic) and value-P. Is or not reject the null hypothesis at 5% significance level. [Use Method and Method P value of the test statistic]. [the critical value can be obtained from the website http://www.Statdistributions.com/f/]. Explain your results with confidence intervals. [Use 99% confidence level] Does the consumer can know that pharmaceutical or should not choose which one to choose? Explain.

Explanation / Answer

For answring the Question 1 and 2, I used the linear mexed model using 5 pharmercical firms as a random factors.

1. Ans: The variability between samples CMTRs (5 pharmercical firms) is 8.214 .

2. Ans: The variability within the sample CME is the total variance = 49.717+8.214 = 57.931.

For remaining question, I applied fixed model.

3. Ans: The calculated F and p values are 2.49 and 0.059 respectively.

4. Ans: The calculated p-value is 0.059.

5. Ans: The calculated p-value is larger than 0.05 level of significance. So, the null hypothesis is accepted. Hence, we can conclude that their is no difference in the prices of the 5 pharmatical firms.

6. Ans: From the analysis, the average prices on the 5 pharmaceutical firms are not different. Hence, the consumer can shoose any of the pharmaceutical firm product.

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