What Is an Effect Size

question 57

Multiple Choice

What is an effect size?

• A) The calculation that a researcher performs to determine the sample size for a study.
• B) A statistic that reflects the strength of an intervention's effects.
• C) A statistic that reflects the extent to which a confounding variable affected the outcome of an intervention study.
• D) The extent to which a study has had an effect on government/social policy.
• E) The extent to which a study has had an impact on its research participants.

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Definitions:

MU y/ Pᵧ

The ratio of the marginal utility of good Y (MUy) to its price (Pᵧ), indicating the additional satisfaction per unit of currency spent.

Maximize Utility

The economic objective of consumers to achieve the highest level of satisfaction possible from their consumption decisions, given their income and the prices of goods and services.

Marginal Utility

The additional satisfaction or benefit that a consumer derives from consuming an additional unit of a good or service.

Equilibrium

A state where supply and demand balance, and as a result, prices become stable.