Solutions Economics

Demonstrate how the Prisoner’s Dilemma (PD) game can be used to analyse competition between two firm

Question: An employment agency wants to see which of three types of advertisements in the help-wanted section of local newspapers is the most effective. Three types of advertisements (big headline, straightforward, and bold print) were randomly alternated over a period of weeks and the number of people responding to the advertisements was noted each week.

	Type of Advertisement
Number of Responses	Big Headline	Straightforward	Bold Print
	23	19	28
	42	31	33
	36	18	46
	48	24	29
	33	26	34
	26		34

At the 0.01 level of significance and using the follow Excel output, does this data support the null hypothesis's position that there is NO difference in the effectiveness of the advertisements as measured by the mean number of people responding? (Please write out the symbols and the words of the null and alternative hypothesis.) Please note that the following output can be used to identify the solution. So you really can focus on doing a superb job on the step one symbol and words and the final answer (with given this information and "probably"). Excel Output

Big Headline	Straightforward	Bold Print
23	19	28
42	31	33
36	18	46
48	24	29
33	26	34
26		34

Anova: Single Factor

SUMMARY
Groups	Count	Sum	Average	Variance
Column 1	6	208	34.66666667	89.46666667
Column 2	5	118	23.6	28.3
Column 3	6	204	34	41.2


ANOVA
Source of Variation	SS	df	MS	F	P-value	F crit
Between Groups	407.9372549	2	203.9686275	3.725292378	0.050445485	6.514937922
Within Groups	766.5333333	14	54.75238095

Total	1174.470588	16