Question: Find a quantity of interest to you and look up its value on the Internet or in your library for at least 10 firms in each of at least three industry groups. You should thus have at least 30 numbers.
a. Draw box plots, one for each industry group, and summarize your data set. Be sure to use the same scale, to facilitate comparison.
b. Find the average and standard deviation for each industry group.
c. Comment on whether the assumptions for the one-way analysis of variance appear to be (1) satisfied,
(2) somewhat satisfied, or
(3) not at all satisfied by your data. Correct any serious problem, if possible, by transforming.
d. Find the between-sample variability and its degrees of freedom.
e. Find the within-sample variability and its degrees of freedom.
f. Find the F statistic and its numbers of degrees of freedom.
g. Find the appropriate critical value in the F table at your choice of significance level.
h. Perform the F test and report the results.
i. If the F testis significant, perform the least-significant difference test for each pair of industry groups and summarize any differences you find.