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Scenario III
Scenario III is based on fabricated data inspired by the following study:
Pretz, J. E. & Kaufman, J. C. (2015) . Do traditional admissions criteria reflect applicant creativity? The Journal of Creative Behavior, 49(2) , 1-15.
Creativity and College Admissions Study
Pretz and Kaufman examined the relationship between creativity and college admissions status in 610 undergraduate students. The volunteers' creativity was assessed using a 3three-item creative self-efficacy scale and the Kaufman Domains of Creativity Scale. Creativity was examined in relation to each student's high school rank and college standardized test scores. The results revealed a statistically significant negative relationship between creativity and college admissions status, and that very high levels of creativity were often associated with less favorable admission status. The authors conclude that some students admitted into college are very creative while others are not particularly creative, and that regardless of one's level of creativity, all college students have a level of intelligence greater than those not admitted to college.
-Sarah is an undergraduate research assistant who was in charge of obtaining informed consent from the undergraduates who participated in this study. Sarah was involved in which step associated with hypothesis testing?
Compounded Monthly
This term describes the process where interest earned is added to the principal, and future interest payments are calculated based on the new total, on a monthly basis.
Monthly Payment
A regular payment made each month on a loan, mortgage, or other form of debt, typically including both principal and interest components.
Loan Term
The duration of time agreed upon by the lender and borrower for the repayment of a loan.
Discount Rate
The interest rate charged to commercial banks and other depository institutions for loans received from a central bank's discount window; or alternatively, used in discounted cash flow (DCF) analysis to present value future cash flows.
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