When Making Decisions

question 58

Multiple Choice

When making decisions:

• A)quantitative factors are the most important
• B)qualitative factors are the most important
• C)appropriate weight must be given to both quantitative and qualitative factors
• D)both quantitative and qualitative factors are unimportant

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Definitions:

Effect Size

A quantitative measure of the magnitude of a phenomenon or the strength of the relationship between variables.

Cramér's V

An association measure for categorical data, providing a value that indicates the strength of association.

Degrees of Freedom

Degrees of freedom refer to the number of independent pieces of information used in the calculation of a statistic, often related to the number of samples minus the number of parameters estimated.

P Value

A statistical measure that indicates whether the results of an experiment are significant, specifically it measures the probability of observing the given results if the null hypothesis were true.