The Advantage of the Randomized Block Design Over the Completely

question 114

Multiple Choice

The advantage of the randomized block design over the completely randomized design is that we are comparing the treatments by using ________ experimental units.

• A) randomly selected
• B) the same
• C) different
• D) representative
• E) equally timed

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Definitions:

Adverse Selection

A situation in which one party in a transaction has more or better information than the other, often leading to a misallocation of resources.

Moral Hazard

A situation in economic theory where one party is willing to take more risks because the negative consequences of the risk will be borne by another party.

Moral Hazard

A situation where one party is more likely to take risks because another party bears the consequences of those risks.

Specific Purpose

A clearly defined and precise goal or objective that a project, action, or entity aims to achieve.