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Dr.Li is interested in creating a measurement of religiosity.According to the dictionary,religiosity is "the quality of being religious;piety;devoutness." He creates a measure comprising 10 statements.People respond to each statement using the following scale (1 = strongly disagree, 3 = neither agree nor disagree,5 = strongly agree).Some of the statements are below.
Statement 1: "I believe in a religion."
Statement 2: "Part of who I am stems from my religious beliefs."
Statement 3: "I believe that religion is unnecessary."
-Dr.Li gives his new measure to a group of 100 adults in order to test the internal validity of his measure.Draw two scatterplots: one that demonstrates the likely relationship between Statement
1 and Statement 2 and one that demonstrates the likely relationship between Statement 1 and Statement 3.Explain why you have drawn each scatterplot as you have.
Professional Judgement
The application of knowledge, expertise, and experience to make informed decisions within the context of professional practices.
Net Realisable Value
The estimated selling price of an asset in the ordinary course of business minus any costs associated with its sale or disposal.
Fair Value
A market-based measurement that represents the price at which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.
Normative Theories
Theories that prescribe how the world should be or how ethical dilemmas should be resolved, based on values and principles.
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