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What is the first step in the scientific method?
What is the first step in the scientific method?
Which of the following is NOT a basic assumption of the scientific method?
Which of the following is NOT a basic assumption of the scientific method?
What is a key feature that should be prioritized in economic research?
What is a key feature that should be prioritized in economic research?
Which type of research aims to solve specific problems faced by economic agents?
Which type of research aims to solve specific problems faced by economic agents?
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What determines the reliability of research results in economic research?
What determines the reliability of research results in economic research?
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Which of the following approaches is involved in collecting valid and reliable information?
Which of the following approaches is involved in collecting valid and reliable information?
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Which of the following best describes Basic Economic Research?
Which of the following best describes Basic Economic Research?
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What is one primary consideration to ensure the currentness of data in economic research?
What is one primary consideration to ensure the currentness of data in economic research?
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What does the null hypothesis (H0) state?
What does the null hypothesis (H0) state?
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Which hypothesis type specifies a direction in the relationship between variables?
Which hypothesis type specifies a direction in the relationship between variables?
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What is the first step in the hypothesis testing process?
What is the first step in the hypothesis testing process?
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Which research type is conducted to describe and investigate characteristics of variables?
Which research type is conducted to describe and investigate characteristics of variables?
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What does a rejection of the null hypothesis (H0) imply?
What does a rejection of the null hypothesis (H0) imply?
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Which of the following would be an example of an exploratory study?
Which of the following would be an example of an exploratory study?
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In hypothesis testing, what is the significance level?
In hypothesis testing, what is the significance level?
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Which of the following statements best describes a non-directional hypothesis?
Which of the following statements best describes a non-directional hypothesis?
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What characterized the intellectual climate of Europe during the Medieval period?
What characterized the intellectual climate of Europe during the Medieval period?
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What significant development occurred in the Islamic World from the 8th to the 12th century?
What significant development occurred in the Islamic World from the 8th to the 12th century?
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What was one of the main educational initiatives introduced by Charlemagne?
What was one of the main educational initiatives introduced by Charlemagne?
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How did the Renaissance impact the relationship between religion and science?
How did the Renaissance impact the relationship between religion and science?
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What was Leonardo da Vinci's view on the relationship between observation and science?
What was Leonardo da Vinci's view on the relationship between observation and science?
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What was Copernicus known for proposing?
What was Copernicus known for proposing?
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What was the first law of planetary motion proposed by Kepler?
What was the first law of planetary motion proposed by Kepler?
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What was the church's stance on the heliocentric theory after it was proposed by Copernicus?
What was the church's stance on the heliocentric theory after it was proposed by Copernicus?
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What does reliability in measurement refer to?
What does reliability in measurement refer to?
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What is required for a scale to be standardized and produce appropriate information?
What is required for a scale to be standardized and produce appropriate information?
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How is a Likert scale typically structured?
How is a Likert scale typically structured?
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What challenge exists when measuring the actual value in practice?
What challenge exists when measuring the actual value in practice?
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What does a Semantic Differential Scale assess?
What does a Semantic Differential Scale assess?
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What is considered the main goal of measuring reliability?
What is considered the main goal of measuring reliability?
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What is a typical format for responses on a 5-point Likert scale?
What is a typical format for responses on a 5-point Likert scale?
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What commonly affects the reliability of a measurement?
What commonly affects the reliability of a measurement?
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What is a potential reason for bias in the selection of subjects in research?
What is a potential reason for bias in the selection of subjects in research?
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How does the measurement process impact the independent variable in external validity?
How does the measurement process impact the independent variable in external validity?
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What is the Hawthorne Effect primarily associated with?
What is the Hawthorne Effect primarily associated with?
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What can complicate the interpretation of results in studies involving multiple independent variables?
What can complicate the interpretation of results in studies involving multiple independent variables?
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What term describes the larger group from which a sample is drawn for research?
What term describes the larger group from which a sample is drawn for research?
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What is a common issue when a sample does not sufficiently represent the population?
What is a common issue when a sample does not sufficiently represent the population?
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Which of the following describes trial reactions in research subjects?
Which of the following describes trial reactions in research subjects?
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What best defines the working universe in research methodology?
What best defines the working universe in research methodology?
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Study Notes
Hypothesis Testing
- A null hypothesis (H0) states there is no relationship between two variables.
- An alternative hypothesis (H1) states there is a relationship between two variables.
- Directional hypothesis: Specifies the direction of the relationship between variables (e.g., positive, negative, large, small).
- Undirectional hypothesis: Does not specify the direction of the relationship between variables.
Steps of Hypothesis Testing
- Determine the null (H0) and alternative (H1) hypotheses.
- Select the appropriate statistical test.
- Set a significance level (alpha).
- Analyze the data and check if the significance level is met.
- Based on the analysis, either accept or reject the null hypothesis (H0).
Research Types
- Exploratory study: Used when there is limited information about the subject. Aims to develop a model and create a detailed research design.
- Descriptive research: Investigates the characteristics of variables of interest. Used to understand group characteristics, think systematically, and generate new research ideas.
- Hypothesis testing: Explains the nature of relationships between factors. Investigates the independence or dependence of two or more factors.
Science in History
- Period between ancient civilizations and the Renaissance (4th-14th century AD): Considered a dark period for Europe.
- Medieval Europe: Dominated by religious beliefs over reasoning and science.
- Islamic World (8th-12th centuries): Significant advancements in scientific thought, particularly in algebra, geometry, and the decimal system.
The West in the Scholastic Period
- 787: Charlemagne started an education movement in Europe, leading to the establishment of universities.
- 13th century: Birth of science as researchers emphasized examination instead of relying solely on ancient sources.
Renaissance and Science
- Renaissance: Broke the dominance of religious authorities and fostered a period of creativity in art and literature, but science experienced stagnation.
- Leonardo da Vinci: Emphasized observation and mathematical reasoning as integral to scientific inquiry. Proposed that Earth is a planet.
- Copernicus: Proposed the heliocentric (sun-centered) solar system, contradicting the geocentric (Earth-centered) system of Ptolemy.
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Kepler: Made significant contributions to astronomy with three laws of planetary motion:
- Planets move in elliptical orbits with the sun at one focus.
- The line connecting a planet to the sun sweeps equal areas in equal time intervals.
Scientific Method
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Basic Assumptions:
- Systematic cause-and-effect relationships exist between events.
- Events can be examined.
- Valid and reliable information can be collected using inductive and deductive approaches.
- Events can be explained without relying on metaphysical views.
Scientific Research Process
- Identifying a problem.
- Defining the problem.
- Predicting a solution.
- Determining observable tests that can verify or falsify the prediction.
- Conducting trials and evaluations.
- Reporting results.
Economic Research
- A systematic process of collecting, processing, analyzing, and interpreting data to inform economic decision-making.
Key Features of Economic Research
- Objectivity: Research results should be evaluated impartially.
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Validity & Reliability:
- Validity: Measures the extent to which the research explores the targeted concept. Can be problematic in economic research.
- Reliability: Measures the extent to which research results can be generalized.
- Systematic Process: All steps, including data collection, should be conducted systematically.
- Currentness: Data must be up-to-date.
- Appropriateness: Timing should be considered to avoid external influences.
- Eligibility: Data collection methods must be appropriate.
Research Examples
- Employee behaviors: Performance, absenteeism.
- Portfolio models: Financial investments.
- Consumer behaviors: Purchase decisions.
Types of Economic Research
- Applied Economic Research: Solves specific problems faced by economic agents.
- Basic Economic Research: Expands knowledge about general economic problems and seeks solutions, without focusing on a specific problem.
Likert Scale
- A 5 or 7-point scale (rarely 3 or 9 points) used to measure attitudes or opinions, where respondents rate their agreement or disagreement with a statement.
Semantic Differential Scale
- Measures the meaning associated with a stimulus by using pairs of opposite adjectives. Respondents rate the stimulus on a scale between the adjectives.
Economics: Reliability and Validity
- Reliability: Consistency of measurement results obtained with repeated measurements.
- Validity: Measures the extent to which the measurement tool accurately measures the intended concept.
Factors Affecting External Validity
- Measurement-Argument Interaction: Participant motivation from the measurement process can influence their response to the independent variable.
- Bias-Selection Interaction: Sample selection biases can lead to results not representative of the population.
- Trial Reaction: Subjects may alter their behavior due to being aware of being studied (Howthorne Effect).
- Interaction of Independent Variables: The order or timing of independent variable application can affect the dependent variable.
Population vs. Sample
- Population: All objects or individuals within a field of observation.
- Working Universe: The specific population accessible to the researcher for observation.
- Sample: A subset of the population selected according to specific rules intended to be representative of the population.
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Description
This quiz covers key concepts in hypothesis testing, including null and alternative hypotheses, directional and undirectional hypotheses, and the steps involved in hypothesis testing. Additionally, it addresses different types of research studies relevant to developing and analyzing hypotheses.
