Please Refer to the Following Short Case as You Respond

question 8

Multiple Choice

Please refer to the following short case as you respond to the next question: A painter accepts orders for original works from customers in person or via the Internet. Based on the order, the painter creates an initial sketch, which must be approved by the customer; the customer may make changes to the initial sketch. After customer approval, the painter selects appropriate materials and gives the customer a price quote. If the customer accepts the price quote, the painter creates the original work; if not, the project is abandoned. The painter stores data about customers, previous orders and previously completed works in an electronic database.A data flow diagram of the case includes two circles connected by a line. The three symbols are most likely to be labeled with which of the following?

• A)Develop price quote, price quote, create original work
• B)Create original work, original work, completed works database
• C)Either A or B
• D)Neither A nor B

Identify the independent and dependent variables in an experimental study.

Distinguish between different types of research methods (experimental, correlational, case study) and their applications.

Recognize the significance of the placebo effect in experimental research.

Understand the role and management of confounds in experimental studies.

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Definitions:

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.

Supply Curve

The supply curve is a graphical representation showing the relationship between the price of a good or service and the quantity supplied for a given period, typically upward sloping.

Market

A system or arena in which commercial dealings are conducted, often defined by the goods or services available for trade.

Externalities

Financial outcomes or repercussions that impact third parties who are not directly involved; these can be positive or negative.