Examlex
If the standard to produce a given amount of product is 1,000 units of direct materials at $11 and the actual was 800 units at $12, the direct materials price variance was $800 favorable.
Selection Bias
The assignment of participants to experimental or control groups in such a way that systematic differences among the groups are present at the beginning of the experiment.
Placebo Effect
A phenomenon where a person experiences a perceived improvement in condition due to their expectations, rather than the effect of an active intervention.
Placebo Effect
A psychological phenomenon where patients experience perceived or actual improvements in their condition due to their belief in the efficacy of a treatment that is inert or not specifically effective for the condition being treated.
Fake Treatment
A placebo or sham treatment, with no therapeutic effect, used as a control in testing new drugs or treatments.
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