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Name: One Big Bill or Many Smaller Bills In a study of the “denomination eff
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Description: One Big Bill or Many Smaller Bills In a study of the “denomination effect,” 150 women in China were given either a single 100 yuan bill or a total of 100 yuan in smaller bills. The value of 100 yuan is about $15. The women were given the choice of sp

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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One Big Bill or Many Smaller Bills In a study of the “denomination effect,” 150 women in China were given either a single 100 yuan bill or a total of 100 yuan in smaller bills. The value of 100 yuan is about $15. The women were given the choice of spending the money on specific items or keeping the money. The results are summarized in the table below (based on “The Denomination Effect,” by Priya Raghubir and Joydeep Srivastava, Journal of Consumer Research, Vol. 36). Use a 0.05 significance level to test the claim that the form of the 100 yuan is independent of whether the money was spent. What does the result suggest about a denomination effect?

Spent the Money
Kept the Money
Women Given a Single 100-Yuan Bill
60
15
Women Given 100 Yuan in Smaller Bills
68

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