Suppose a Researcher Finds a Statistically Significant Relationship Between Salary

question 2

Multiple Choice

Suppose a researcher finds a statistically significant relationship between salary and job satisfaction among a random sample of employees. From this information, he can conclude that

• A) there is likely to be a relationship between job satisfaction and salary.
• B) differences in salary cause differences in job satisfaction.
• C) salary is the most important factor in job satisfaction.
• D) the relationship between salary and job satisfaction probably occurred at random.
• E) there is no relationship between job satisfaction and salary.

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Definitions:

Profit-Maximizing

Profit-Maximizing refers to a firm's strategy or behavior aimed at increasing its profits to the highest possible level, based on factors like price, production costs, and market demand.

Price Elasticity

A measure capturing how demand for a product reacts to adjustments in price.

Linear Demand

A demand relationship shown through a straight line on a graph, indicating a constant relationship between price and quantity demanded.

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing to buy at each price point.