A Group of Participants Has Just Completed a Series of Problems

question 19

Multiple Choice

A group of participants has just completed a series of problems involving water jars. In each problem, the participants needed to fill the largest jar, pour from it once into the middle-sized jar, and then pour from the largest jar twice into the smallest jar. The participants are now given a new problem, which cannot be solved via this procedure. We would expect that the participants will:

• A) quickly solve the new problem because they have had practice with a series of very similar problems
• B) have difficulty with the new problem because they are now locked into the procedure they had used successfully
• C) behave just as participants who have no experience with water jar problems; that is, there will be no effect of the prior training
• D) try their already practiced procedure and, once they realize this procedure does not help them, they will show no effect of the prior training

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Definitions:

Initial Investment

The amount of money used to start an investment project or venture.

Mutually Exclusive

A situation where the occurrence of one event means the other cannot occur at the same time.

NPV

Net Present Value, a calculation used to assess the profitability of an investment, considering the time value of money.