11.85 Last name and acquisition timing. Refer to the Journal of Consumer Research (Aug. 2011) study of the speed with which consumers decide to purchase a product, Exercise 9.14 (p. 448). Recall that the researchers theorized that consumers with last names that begin with letters later in the alphabet will tend to acquire items faster than those whose last names are earlier in the alphabet (i.c., the last name effect). Each in a sample of 50 MBA students was offered free tickets to attend a college basketball game for which there was a limited supply of tickets. The first letter of the last name of those who responded to an e-mail offer in time to receive the tickets was noted and given a numer- ical value (e.g., "A" = 1, "B" = 2, etc.). Each student's response time (measured in minutes) was also recorded. a. The researchers computed the correlation between the two variables as r=-.271. Interpret this result. b. The observed significance level for testing for a negative correlation in the population was reported as p-value = .018. Interpret this result for a = .05. c. Does this analysis support the researchers' last name effect theory? Explain.
11.85 Last name and acquisition timing. Refer to the Journal of Consumer Research (Aug. 2011) study of the speed with which consumers decide to purchase a product, Exercise 9.14 (p. 448). Recall that the researchers theorized that consumers with last names that begin with letters later in the alphabet will tend to acquire items faster than those whose last names are earlier in the alphabet (i.c., the last name effect). Each in a sample of 50 MBA students was offered free tickets to attend a college basketball game for which there was a limited supply of tickets. The first letter of the last name of those who responded to an e-mail offer in time to receive the tickets was noted and given a numer- ical value (e.g., "A" = 1, "B" = 2, etc.). Each student's response time (measured in minutes) was also recorded. a. The researchers computed the correlation between the two variables as r=-.271. Interpret this result. b. The observed significance level for testing for a negative correlation in the population was reported as p-value = .018. Interpret this result for a = .05. c. Does this analysis support the researchers' last name effect theory? Explain.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
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Chapter5: A Survey Of Other Common Functions
Section5.3: Modeling Data With Power Functions
Problem 6E: Urban Travel Times Population of cities and driving times are related, as shown in the accompanying...
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Transcribed Image Text:11.85 Last name and acquisition timing. Refer to the Journal of
Consumer Research (Aug. 2011) study of the speed with
which consumers decide to purchase a product, Exercise
9.14 (p. 448). Recall that the researchers theorized that
consumers with last names that begin with letters later in
the alphabet will tend to acquire items faster than those
whose last names are earlier in the alphabet (i.e., the last
name effect). Each in a sample of 50 MBA students was
offered free tickets to attend a college basketball game for
which there was a limited supply of tickets. The first letter
of the last name of those who responded to an e-mail offer
in time to receive the tickets was noted and given a numer-
ical value (e.g., "A" = 1, "B" = 2, etc.). Each student's
response time (measured in minutes) was also recorded.
a. The researchers computed the correlation between the
two variables as r = -.271. Interpret this result.
b. The observed significance level for testing for a negative
correlation in the population was reported as p-value
= .018. Interpret this result for a = .05.
c. Does this analysis support the researchers' last name
effect theory? Explain.
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