When Attempting to Balance the Sample Size with the Cost

question 56

Multiple Choice

When attempting to balance the sample size with the cost of data collection,the textbook illustrated that it is helpful to:

• A)use an Excel spreadsheet.
• B)rely on financial leveraging.
• C)use a table that depicts data collection cost and sample error for different sample sizes.
• D)use a table that depicts data collection cost and the costs of computing different sample sizes.
• E)use a table that depicts data collection cost contrasted to the cost of not doing research.

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Definitions:

Wilcoxon Signed Rank Test

A non-parametric statistical test used to compare two related samples, testing the null hypothesis that their population mean ranks differ.

Null Hypothesis

A statement used in statistics that proposes there is no significant difference or effect, serving as the assumption to be tested.

Mean

The arithmetic average of a set of numbers, calculated by adding up all the values and then dividing by the number of values.

Pay Equity

Pay equity refers to the principle of equal pay for work of equal value, aiming to eliminate wage discrimination based on gender, race, or other unrelated factors to job performance.