An article in a 2006 issue of Journal of Behavioral Decision Making reports on a study involving 47 undergraduate students in a class at Harvard. All of the participants were given $50, but some (chosen at random) were told that this was a "tuition rebate," while the others were told that this was "bonus income." After one week, the students were contacted again and asked how much of the $50 they had spent and how much they had saved. Those in the "rebate" group had spent an average of $22.04, while those in the "bonus" group had spent an average of $9.55. If the difference in average spending amounts between the two groups is determined to be statistically significant, would it be legitimate to draw a cause-and-effect conclusion between what the money was called and how much was spent

Yes

Explanation:

If the difference in average spending amounts between the two groups is determined to be statistically significant, it would be legitimate to draw such a conclusion.

Why?

Those who were told that it was a Tuition rebate, a reward of sorts, had spent on average, $22.04 whilst those who thought it was simply bonus income had spent significantly less at $9.55.

This means that indeed there is a CAUSE and EFFECT conclusion to be drawn between what the money was called and how much was spent because it is clear that when called a tuition rebate, more of it is spent as opposed to it being called a Bonus income.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

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