The University Recently Inherited a Large Mansion from a Wealthy

question 95

Multiple Choice

The university recently inherited a large mansion from a wealthy alumnus.The university plans to use the mansion for faculty parties and to house distinguished guests.The opportunity cost of the mansion to the university is:

• A)zero because it was a gift.
• B)the original cost of building the mansion.
• C)the amount the university would receive if it sold the mansion.
• D)the cost of catering the parties at the mansion.

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Definitions:

Reliable

Reliable refers to the consistency of a measure or process over time. In research, it means that the results of a study or the performance of an instrument are consistent and can be replicated under similar conditions.

Test-Retest

A method of measuring the reliability of a test by administering the same test to the same subjects at two points in time and comparing the results.

Internal Consistency

A measure of the reliability of a test or scale, indicating how closely related a set of items are as a group.

Cronbach's Alpha

A measure used in statistics to assess the reliability, or internal consistency, of a set of scale or test items.