A marketing manager of Collections, Etc, a Web-based catalog sales company, uses a segmentation scheme based on the incomes of target customers. The segmentation system has four segments: (1) low income, (2) moderate income, (3) high income, and (4) wealthy. The company database holds information on every customer’s purchases over the past several years, and the total dollars spent at Collections, Etc. is one of the prominent variables. Using Microsoft Excel on this database, the marketing manager finds that the average total dollar purchases for the four groups are as follows.
Market SegmentAverage Total Dollar Purchases
Low income........$101
Moderate income.......$120
High income........$231
Wealthy...........$595
Construct a table that is based on the Duncan’s Multiple Range test table concept discussed in the chapter that illustrates that the Low and Moderate Income groups are not different from each other, but the other groups are significantly different from one another.