The Main Reason for Using a 2 × 2 Factorial

question 18

Multiple Choice

The main reason for using a 2 × 2 factorial design instead of two separate experiments (with one IV per experiment) is to:

• A)find the main effects of each independent variable.
• B)find an interaction between the independent variables.
• C)save time.
• D)manipulate one independent variable at a time.

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Utility Function

A formula used to quantify the satisfaction consumers derive from consuming various goods and services.

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Actions that expose individuals to a significant risk of harm or loss, often scrutinized in health, finance, and safety studies.

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The anticipated return or outcome from an investment or decision, taking into account all possible scenarios.