What Does It Mean That the Relationship Between a Predictor

question 68

Multiple Choice

What does it mean that the relationship between a predictor and a criterion is significant at the .05 level?

• A)If we conducted our study in the same manner 100 times, in 95 of these we would find a similar relation between our predictor and criterion.
• B)If we conducted our study in the same manner 100 times, in 5 of these we would find a similar relation between our predictor and criterion.
• C)If we conducted our study in the same manner 100 times, in 100 of these we would find a similar relation between our predictor and criterion.
• D)There is an inverse relationship between the predictor and criterion and that relationship is very strong.

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Definitions:

Price Elastic

A term related to price elasticity of demand, indicating how responsive the quantity demanded of a good or service is to a change in its price.

Product

Anything that can be offered to a market to satisfy a want or need, including goods, services, and ideas.

Income Elasticity

A measure of how the demand for a good or service changes in relation to a change in income.

Good

A tangible product that satisfies human wants or needs.