External Validation Is Defined as

question 103

Multiple Choice

External validation is defined as

• A) the extent to which we can be confident the independent variable is causing change in the dependent variable.
• B) the extent to which we can be confident the individual variable is causing change in the independent variable.
• C) how well the results relate to things outside your study.
• D) the degree to which the hypothesis is supported by the study.

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Definitions:

Competition-Based Method

Pricing strategy where the price of goods or services is determined by considering the prices of competitors’ products.

Total Cost Method

An accounting method that involves recording all production costs to inventory until the goods are sold, at which point they are expensed.

Markup

The amount added to the cost of a product to determine its selling price, usually expressed as a percentage of the cost.

Differential Analysis

The process of comparing the costs and benefits of alternative business decisions.