John Is Trying to Decide Whether to Expand His Business

question 98

Multiple Choice

John is trying to decide whether to expand his business or not.If he continues his business as it is,with no expansion,there is a 50 percent chance he will earn $100,000 and a 50 percent chance he will earn $300,000.If he does expand,there is a 30 percent chance he will earn $100,000,a 30 percent chance he will earn $300,000 and a 40 percent chance he will earn $500,000.It will cost him $150,000 to expand.If John decides to expand,it means:

• A)the difference in expected earnings from expanding versus not must exceed $150,000.
• B)the sum in expected earnings from expanding and from not must exceed $150,000.
• C)the difference in expected earnings from expanding versus not must not exceed $150,000.
• D)his expected earnings from expansion must exceed $150,000.

Distinguish between different types of stimuli and responses in classical conditioning.

Apply classical conditioning principles to everyday life and psychological phenomena.

Identify the processes of acquisition, extinction, spontaneous recovery, stimulus generalization, and discrimination within classical conditioning.

Relate classical conditioning concepts to behavioral patterns and emotional responses.

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Definitions:

Likert Scale

A technique for measuring attitudes that asks a respondent to indicate the extent to which he or she agrees with each of a series of statements about an object.

Reliability

The degree to which a measuring instrument produces the same results each time it is employed under a set of specified conditions.

Different Participants

Refers to the diverse members or individuals who take part in a study, survey, or any given activity or process.

Diary Research

A qualitative research method that involves participants keeping a record of their activities, thoughts, or feelings over a period of time for later analysis by researchers.