Examlex
A study about high school student SAT scores reported that a student's SAT Math score has a strong positive linear association with his/her SAT Verbal score. What can you determine about the relationship between SAT Math scores and SAT Verbal scores?
Decision Making
The method of selecting options through recognizing a decision, collecting data, and evaluating different solutions.
Net Benefits
The total positive effects or gains from a decision or action minus any negative effects or costs associated with it.
Prospect Theory
A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.
Salary
A form of payment from an employer to an employee, which may be specified in an employment contract.
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