Although the Change Decreases Statistical Power, You Can Decrease the Risk

question 59

Multiple Choice

Although the change decreases statistical power, you can decrease the risk of making a Type I error simply by

• A) examining extraneous variables.
• B) making your significance i.e., alpha) level smaller
• C) adding more dependent variables to your study.
• D) adjust your degrees of freedom.
• E)g., change it from .05 to .01).

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Definitions:

PQ Remains Same

A situation in economic terms where the price level (P) and quantity (Q) of goods and services in the market stay unchanged over a period.

Velocity V

Velocity V typically refers to the velocity of money, a measurement of the rate at which money is exchanged in an economy.

Percentage Fall

A measure that indicates the decrease in a value or quantity, expressed as a percentage of its previous value.

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way.