What Is Meant by the Reliability of a Method

question 6

Multiple Choice

What is meant by the reliability of a method?

• A) The extent to which two independent raters would generate the same answers
• B) The extent to which a method has real-world applicability
• C) A statistical method for reducing the complexity of a data set
• D) The extent to which the same measure would yield the same result if repeated

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Definitions:

Price-Elasticity Of Demand

A gauge of the extent to which the amount of a product sought by consumers alters following a modification in its price.

Percentage Change

A mathematical calculation that demonstrates how much a quantity has increased or decreased relative to its previous value, often expressed as a percentage.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of demand to changes in price.

Demand Schedule

A table that lists the quantity of a good a person will buy at different prices.