Which of the Following Is the Most Important Function of IRBs

question 39

Multiple Choice

Which of the following is the most important function of IRBs?

• A) To control research quality
• B) To secure research funding
• C) To ensure that research subjects are not harmed
• D) To protect researchers from legal liabilities

Recognize the importance of cash flow timing and its effect on project viability through the payback method.

Understand the principles and applications of the Net Present Value (NPV) and Equivalent Annual Annuity (EAA) method for evaluating projects.

Identify and explain the limitations and advantages of the replacement chain method in capital budgeting.

Calculate and interpret the Internal Rate of Return (IRR), NPV, and Profitability Index (PI) for different projects.

---

Definitions:

Significance Level

In statistics, a threshold of probability set for rejecting the null hypothesis, indicating the strength of the evidence against the null hypothesis.

Mean Difference

The average of differences between pairs of observations in a dataset.

Standard Deviation

A statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance.

Paired T-test

A statistical test used to compare the means of two related groups to determine if there is a significant difference between them.