When Results of an Experiment Reveal a Large Effect Size

question 108

Multiple Choice

When results of an experiment reveal a large effect size for the dependent variable, this tells you that:

• A) the difference between groups is statistically significant.
• B) the magnitude of difference between groups reveals a practically significant finding.
• C) there is covariation between the independent and dependent variables.
• D) the experiment has the required amount of mundane realism.

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Definitions:

Marginal Revenue Product

The additional revenue a firm earns by employing one more unit of input, like labor or capital, in the production process.

Wage Rate

The amount of compensation a worker receives for performing a service, typically measured per hour or unit of work.

Employment

The state of having a paid job or being engaged in a productive activity.

Marginal Wage Cost

The additional cost incurred by an employer for hiring one more unit of labor.