All of the Following Are True About Factorial Designs Except

question 38

Multiple Choice

All of the following are true about factorial designs except

• A)they have at least two independent variables
• B)the independent variables can be either between-subjects or within-subjects
• C)they are best analyzed with a 1-factor ANOVA
• D)if both main effects and interactions occur, interactions should be interpreted first

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Definitions:

Economically Efficient

Refers to a situation where resources are allocated in a way that maximizes the net benefit to society.

Revenue

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Consumer Sovereignty

The principle that the consumer's preferences determine the production of goods and services within an economy.

Market System

An economic system where decisions regarding investment, production, and distribution are guided by the forces of supply and demand and prices mediate transactions.