Owen Wanted to Assess the Internal Consistency of His Measure

question 39

Multiple Choice

Owen wanted to assess the internal consistency of his measure of anxiety so he measured reliability estimates by comparing items within his test. He reported a reliability estimate of .80. What measure of reliability is Owen using?

• A) Cronbach's alpha
• B) path analysis
• C) factor analysis
• D) Riesen's reliability estimate

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive, representing their benefit.

Monopolized

Dominated or controlled entirely by a single entity, often in reference to a market situation where one firm holds the majority market share.

Lerner Index

A measure of a firm's market power and pricing strategy, defined as the difference between price and marginal cost, scaled by price.

Elastic

Describes a situation where the quantity demanded or supplied of a good or service changes significantly in response to price changes.