If People Follow the Rule of Rational Choice, They Will

question 80

Multiple Choice

If people follow the rule of rational choice, they will choose options that they think will:​

• A)create more average benefits than average costs.
• B)create more additional costs than additional benefits.
• C)create equivalent additional benefits and additional costs.
• D)create more additional benefits than additional costs.
• E)create more average costs than average benefits.

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Definitions:

Inferential Statistics

Uses mathematical models, theories, and hypotheses to make predictions about a broader population based on observed sample data.

MANOVA

Multiple analysis of variance. This procedure is used when there are multiple dependent variables. See also ANOVA.

Multivariate Analysis

A statistical approach that examines the relationship between multiple variables in order to understand patterns and influences.

Statistical Significance

The probability that a computed statistic such as a t-test or correlation is not due to chance.