Why are mergers attractive to CEOs? One of the reasons might be a potential increase in market share that can come with the pooling of company markets.
Suppose a random survey of CEOs is taken, and they are asked to respond on a scale from 1 to 5 (5 representing strongly agree) whether increase in market share is a good reason for considering a merger of their company with another. Suppose also that the data are as given here and that CEOs have been categorized by size of company and years they have been with their company. Use a two-way ANOVA to determine whether there are any significant differences in the responses to this question. Let α =.05.

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Company Size ($ million per year in sales) 0-5 6-20 21-100 >100 4 4 4 0-2 4 Years with the Company3-5 4 4 4 Over 5 1