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Suppose Matt and Gabe Must Both Choose Between Two Jobs

question 92

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Suppose Matt and Gabe must both choose between two jobs, a safe job that pays $250 per week and a risky job that pays $300 per week. The value of safety to each is $75 per week. Having more income than the other is worth $75 per week to each, and having less income than the other means a $75-per-week reduction in satisfaction. Having the same income as the other means no change in satisfaction. The payoff matrix below summarizes this situation. Suppose Matt and Gabe must both choose between two jobs, a safe job that pays $250 per week and a risky job that pays $300 per week. The value of safety to each is $75 per week. Having more income than the other is worth $75 per week to each, and having less income than the other means a $75-per-week reduction in satisfaction. Having the same income as the other means no change in satisfaction. The payoff matrix below summarizes this situation.   When Matt chooses the safe job, Gabe will get more satisfaction by choosing the ______ job, and when Matt chooses the risky job, Gabe will get more satisfaction by choosing the ______ job. A) risky; risky B) risky; safe C) safe; risky D) safe; safe When Matt chooses the safe job, Gabe will get more satisfaction by choosing the ______ job, and when Matt chooses the risky job, Gabe will get more satisfaction by choosing the ______ job.


Definitions:

Independent Groups

A study design where different participants are used in each group of the experiment, with each participant being exposed to only one level of the experimental manipulation.

Related

A term indicating that two or more variables have some form of association or connection with each other.

Dependent

Referring to a variable in experimental and statistical settings that is expected to change in response to manipulations of another variable.

Continuous

A type of data that can take on any value within a given range and can thus represent subtler variances accurately.

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