Statistics > QUESTIONS & ANSWERS > Concordia University PSYC 316 Assignment 2 (All)

Concordia University PSYC 316 Assignment 2

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Experiment 1 The famous behavioral economist Dan Ariely ran the following study in his class. He intended to investigate the anchor effect by asking his 53 students for the last two digits of their... credit card number. At the start of the course they were asked to indicate the price the students would be willing to pay for his course. He asked the students a second time just before the midterm exam. He wanted to see if students were willing to pay more for his course just before the midterm, in comparison to the start of the semester. 1. IV: Time; the beginning of the class and right before the midterm. DV: Price, the price the students were willing to pay. 2. Price at the beginning of the course, M = 2154.25, SD = 480.42 Price before the midterm, M = 1693.55, SD = 416.73 3. H0 = There is no difference in the price the students are willing to pay for this class at the beginning and before the midterm. Ha = There is a statistically significant difference between the price the students are willing to pay for this class at the beginning and before the midterm. 4. I ran a paired (dependent) samples t-test as the data consisted of within group subjects; 2 sets of values from the same group of participants. The data were connected as it was a measure of price at 2 different times. 5. Assumptions: - Normality: We can assume normality because N>30. However, we can also perform a Shapiro-Wilk test; W = 0.99, p = 0.79. The p-value is greater than .05, which indicates a normal distribution. - The dependent variable is a scale variable. - Sample was not randomly selected due to the experiment being done on a single classroom. - Due to the paired-sample test, we can assume equal variance among variables - Outliers: There were 4 outliers in this sample, however, given that this study only consisted of a single classroom of students the outlier data was left in the sample [Show More]

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