Scott Bought a Widget from Gowhara

question 18

Multiple Choice

Scott bought a widget from Gowhara. The price was $10 000. He paid with a cheque that he had drawn on his account at the Bank of Kamloops. Scott had the cheque certified before he gave it to Gowhara. In fact, Scott's account balance was only $8000. When he discovered that fact, he went to the bank and gave instructions to have the cheque countermanded. Which of the following statements is TRUE?

• A) The Bank of Kamloops is required to pay Gowhara $8000.
• B) The Bank of Kamloops is required to pay Gowhara $10 000.
• C) Scott is entitled to countermand the cheque because it had been certified at his request, rather than at Gowhara's request.
• D) Because the Bank certified the cheque, it must pay $10 000 to Gowhara even though Scott ultimately will have to provide only $8000 to the Bank.
• E) Regardless of certification, it is impossible to countermand a cheque that has been written on an overdrawn account.

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Definitions:

Effect Size

A quantifiable measure of the magnitude of the difference between groups or the strength of a relationship in research findings.

Cohen

A surname often associated with statistical measures of effect size, such as Cohen's d for measuring the difference between two means.

Effect Size

A quantitative measure of the magnitude of the experimental effect, indicating the practical significance of the difference between groups.

Significance Level

A statistic representing the probability of committing a Type I error, typically denoted by alpha (α), indicating how likely it is to find a result as extreme as, or more so, if the null hypothesis is true.