If Professor pegler's research efforts focus on how the use of heuristics influences the way people assess financial risks. The specialty area that this research best represent is:<u> Cognitive Psychology.</u>
<h3>What is Cognitive Psychology?</h3>
Cognitive Psychology can be defined a study that focuses on how people think, act, behave, learn, solve problem etc.
On the other hand heuristics can be defined as the techniques that enables people to make use of their problem solving skills to solve problems.
Therefore if Professor pegler's research efforts focus on how the use of heuristics influences the way people assess financial risks. The specialty area that this research best represent is:<u> Cognitive Psychology.</u>
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<em>Credentialism</em> is a process in which the demand for formal qualifications in individuals grows. As a result, the benefit of differentiation that a person can get as a product of obtaining certain qualification is reduced.
In a credential society, individuals with the highest level (and number) of qualifications will have the greatest chance to obtain the best benefits that this society offers.
People with a low socioeconomic status are highly vulnerable under this structure due to the fact that they are unable to have access to good quality education, if any education at all, due to the cost it represents. On the other hand, people with a high socioeconomic status will have greater access to this benefit due to their greater purchasing power.
For example, a highly skilled teenager whose family is living on welfare wants to become a doctor. This is an expensive career he cannot pay. Therefore, he will have to make his best efforts to apply to a scholarship and beat other candidates in order to get it and be able to study medicine. he might already be in an unfavorable position in comparison to other candidates if his school education was not of good quality.
According to the principle of comparative advantage Charles Woodson plays defensive back rather than receiver for the Green Bay Packers because his advantage as a defensive back exceeds his advantage as a receiver.
Option: B
Explanation:
The theory of comparative advantage depicts how a country can produce more goods instead of utilizing less services. In this way advantage of produced goods will be more in comparison with utilized services. When the profit margin exceeds used cost ratio it establish comparative advantage theory.
It is mainly effective in international trade and commerce where many goods are being imported and exported and taxes are collected on the basis of profit margin. Richardo establishes the theory of comparative advantage.
A statistically significant result indicates that your findings are not likely due to chancea statistically significant result indicates that your findings are not likely due to chance.this is a true statement.
Statistical significance provides a cut-off value for determining whether a sample's results and observable effects are primarily due to screening and accurately represent the characteristics of the study population.This significance threshold is often 0.05-5%, regardless of the need for documentation. This is because the implications of our findings recognize the importance of both Type I and Type II errors. When we say that a result is "statistically significant", we mean it is statistically significantly different from 0.
There is usually a null hypothesis that the parameter is equal to zero. Through statistical analysis, tests can be performed to prove that such parameters are statistically significantly different from zero. Therefore, you should know that this value is statistically significantly different from 0 when viewed in text.
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