As a General Rule, If the Sample Is Large, the Difference

question 184

Multiple Choice

As a general rule, if the sample is large, the difference between the groups is large, and the range of scores within a group is small, then:

• A) the results are likely to be socially meaningful.
• B) the results are likely to be statistically significant.
• C) the results are likely due to chance.
• D) this is a triple-masked study.

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Definitions:

Marginal Revenue

The supplementary income resulting from the sale of one more good or service unit.

Price-Searcher Firm

A company that operates in a market with differentiated products and has some control over the price of its product because it faces a downward-sloping demand curve.

Profit Maximization

is the process or strategy by which a firm adjusts its production and sale levels to achieve the highest possible profit.

Price Takers

Firms or individuals who accept the market price as given and have no influence to change it.