What's the Difference Between an Experiment and a Correlational Study

question 26

Multiple Choice

What's the difference between an experiment and a correlational study?

• A) Psychologists manipulate and measure variables in experiments but only measure variables in correlational studies.
• B) Psychologists use random selection in experiments and random assignment in correlational studies.
• C) Psychologists pay participants in experiments but do not pay participants in correlational studies.
• D) Psychologists must secure IRB approval for experiments but not correlational studies.

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Definitions:

Wealth Of Nations

A seminal book by Adam Smith that analyses the nature and causes of the wealth of nations, laying the foundations of classical economics.

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The cost of foregoing the next best alternative when making a decision or choosing between options.

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Tuition refers to the fee paid for instruction or teaching, typically charged by educational institutions such as colleges and universities.

Marginal Cost

The cost incurred from producing one additional unit of a product or service.