An example of a Type I error is when a researcher concludes ______.
a. an effect does not exist when it actually does
b. an effect exists when it actually doesn’t
c. groups do not differ when they actually do
d. groups are the same when they’re actually different
b. an effect exists when it actually doesn’t
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Accidents, illness, disability, and unemployment are considered ___________________ risks.
a. personal b. property c. liability d. travel
If a finding is statistically significant, we should also examine it for practical significance
a. True b. False
Carl recently bought a used car—and it's a lemon. He has spent thousands of dollars on repairing the car, and this week, the mechanic told him it needs a new radiator. Carl thinks about how much money he has put into the car and thinks that, because he has invested so much money in repairs, he'd be better off just making the repair as opposed to spending money to buy a new car. Carl is a victim
of ____. a. overconfidence b. the sunk-cost fallacy c. opportunity costs d. hindsight bias
Ed
What will be an ideal response?