What Does a Psychologist Usually Mean When She Says a Particular

question 19

Multiple Choice

What does a psychologist usually mean when she says a particular experimental result is 'statistically significant'

• A)The result reflects a large difference between the mean scores in one condition and the mean scores in another.
• B)The result is important in a practical sense.
• C)The result will allow psychologists to support one theory over alternative theories.
• D)The result is unlikely to have occurred solely as a result of chance.

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Definitions:

Profit-maximizing Price

The selling price per unit that maximizes a firm’s profits, based on its cost structure and market demand.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a certain period.

Cost Data

Information or figures related to the expenses incurred in producing goods or services, including both fixed and variable costs.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, leading to competition among them.