What Is Included in the Opportunity Cost of Going to College

question 65

Multiple Choice

What is included in the opportunity cost of going to college?

• A) both tuition and the value of the student's time
• B) tuition, but not the value of the student's time, which is a cash cost
• C) tuition, but not the value of the student's time, which is a monetary cost
• D) neither tuition nor the value of the student's time, since obtaining a college degree makes one's income higher in the future

Recognize the impact of observer bias, such as the generosity error and the halo effect, on the outcomes of assessments.

Describe the importance of defining terms clearly in observational assessments for validity and reliability.

Explain the role and application of sociometric techniques in understanding group dynamics and individual relationships within groups.

Understand the significance of event sampling and time sampling in observation assessments.

---

Definitions:

Ferris State University

A public university located in Big Rapids, Michigan, known for its comprehensive educational programs.

Chi-Square Distributions

A statistical distribution that is used to assess how likely it is that an observed distribution is due to chance, especially useful for categorical data.

Skewed to the Right

A distribution where the tail on the right side of the histogram is longer or fatter than the left side.

Chi-Square Random Variable

Represents a distribution that arises from squaring a standard normal distribution, commonly used in hypothesis testing.