Participants in a Study of Decision Making Were Asked to Rate

question 143

Multiple Choice

Participants in a study of decision making were asked to rate a particular financial solution for solving a dispute with a neighbour.Half of the participants rated the favourability of a solution in which they would receive R600 and their neighbour would receive R800; the other half of participants rated a solution in which each received R500.Which option was most favourably rated?

• A)The option that paid them $600 and their neighbour R800 was higher rated.
• B)The option that paid both their neighbour and themselves R500 was rated higher.
• C)The option that paid them $600 and their neighbour R800 received the highest percentage of 'highly favourable' ratings but also received the highest percentage of 'highly unfavourable' ratings.
• D)There was no difference in the favourability ratings for the two options.

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Definitions:

Null Hypothesis

A hypothesis that suggests there is no statistical significance in a set of given observations, assuming no effect or no difference.

Degrees of Freedom

The count of distinct values or amounts that can be allocated to a statistical distribution after subtracting the estimated parameters.

Computed F Statistic

A value calculated in analysis of variance (ANOVA) used to compare the variances within groups to the variance between groups in a dataset.

Critical Value

A threshold in statistical hypothesis testing, beyond which an observed statistic is considered statistically significant.