How Is Doing a Replication Study Useful

question 34

Multiple Choice

How is doing a replication study useful?

• A) A replication study can demonstrate the reliability of the original findings and indicate what changes have occurred since the original study was conducted.
• B) A replication study is useful only if the first study was conducted incorrectly or if there are other reasons to be suspicious of the results.
• C) Unless there is a well-founded suspicion of deliberate fraud, there is no reason to replicate a study.
• D) A replication is usually less expensive because most of the work has previously been done.

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Definitions:

Innovation

The process of translating an idea or invention into a good or service that creates value and for which customers will pay.

Oligopolists

Firms or entities that dominate an industry or market in an oligopoly, where a small number of companies have significant market power and influence over prices and output.

R&D

Research and development; activities undertaken by companies or governments to innovate and introduce new products or services.

Entry Barriers

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business, potentially including high startup costs, stringent regulations, or strong brand loyalty among consumers.