A Quality of a Measure That Leads to Meaningful Conclusions

question 23

Multiple Choice

A quality of a measure that leads to meaningful conclusions (i.e. ,the measure measures the concept it was designed to measure) is called ____.

• A)reliability
• B)variability
• C)statistical significance
• D)validity

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Definitions:

Price Change

A variation in the cost of a good or service over time.

Technology Improvement

The enhancement or development of new technologies or the improvement of existing technologies, which can lead to increased efficiency and productivity.

Complementary Good

A product or service that is typically used or consumed together with another good or service, increasing demand for one another.

Equilibrium Price

The price at which the quantity of a good supplied equals the quantity demanded, balancing the market.