A Researcher Wants to Investigate the Effectiveness of a Cholesterol-Lowering

question 10

Multiple Choice

A researcher wants to investigate the effectiveness of a cholesterol-lowering medication.The 450 participants are first divided into two groups - those suffering from diabetes and those not suffering from diabetes.Within each group the participants are randomly assigned to one of three groups.The first group will receive a low dose of the medication,the second group will receive a high dose of the medication,and the third group will receive a placebo.At the end of a six-month period,each person's cholesterol will be tested and the change in their cholesterol level will be recorded.

• A)Completely randomized over two factors,medication and diabetes
• B)Randomized block design,blocking on cholesterol level,with two factors,medication and diabetes
• C)Randomized block design,blocking on diabetes,with one factor,medication
• D)Randomized block design,blocking on medication,with one factor,diabetes
• E)None of the above

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Definitions:

Payoff Matrix

A table that shows the potential outcomes of different strategies in a strategic interaction, commonly used in game theory.

Oligopolistic Industry

A market structure characterized by a small number of large firms that dominate the market, often leading to limited competition and higher prices.

Differentiated Oligopoly

A market structure in which a few firms offer products that are similar but not perfect substitutes, allowing for some pricing power.

Collusion

An agreement between competing firms to control prices or exclude entry of a new competitor in the market, often in violation of antitrust laws.