In a Psychological Study of Distance Perception, Introductory Psychology Class

question 1

Essay

In a psychological study of distance perception, introductory psychology class volunteers were given 5, 10, or 15 extra credit points depending on their level of participation in the experiment.They walked along paths laid out along hallways in the psychology building, and were asked to judge the distance they had walked.Each path distance was between 100 and 200 feet in length, and contained from two to seven 90 degree turns.The investigators also kept track of class standing (freshman, sophomore, junior, or senior).For each of the variables in this study, determine whether it is categorical or numerical.For each numerical variable, determine whether it is discrete or continuous:

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Definitions:

Marginal Costs

The additional cost incurred from the production of one more unit of a product or service.

Value of Marginal Product

The additional revenue a firm generates from employing one more unit of input, such as labor, assuming all other inputs are constant.

Demand Decreases

A situation where there is a fall in the quantity of a product that consumers are willing and able to purchase at a given price.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, no barriers to entry or exit, and perfect information among market participants.