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Solved: Guilt in decision making. The effect of guilt

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 44E Chapter 3

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 44E

Problem 44E

Guilt in decision making. The effect of guilt emotion on how a decision maker focuses on a problem was investigated in the Jan. 2007 issue of the Journal of Behavioral Decision Making (see Exercise 1.30, p. 27). A total of 171 volunteer students participated in the experiment, where each was randomly assigned to one of three emotional states (guilt, anger, or neutral) through a reading/writing task. Immediately after the task, students were presented with a decision problem where the stated option had predominantly negative features (e.g., spending money on repairing a very old car). The results (number responding in each category) are summarized in the accompanying table. Suppose one of the 171 participants is selected at random.

Emotional

State

Choose Stated

Option

Do Not Choose

Stated Option

Totals

Guilt

45

12

57

Anger

8

50

58

Neutral

7

49

56

Totals

60

111

171

Source: Based on Gangemi, A., & Mancini, F. “Guilt and focusing in decisionmaking,” Journal of Behavioral Decision Making, Vol. 20, Jan. 2007 (Table 2).

a. Find the probability that the respondent is assigned to the guilty state.

b. Find the probability that the respondent chooses the stated option (repair the car).

c. Find the probability that the respondent is assigned to the guilty state and chooses the stated option.

d. Find the probability that the respondent is assigned to the guilty state or chooses the stated option.

Step-by-Step Solution:
Step 1 of 5

Solution

Step1 of 5:

  Given the data is

                       

Emotional state

Choose stated option

Do not choose stated option

Totals

 Guilt

45

12

57

Anger

8

50

58

Neutral

7

49

56

Totals

60

11

171

Step 2 of 5

Chapter 3, Problem 44E is Solved
Step 3 of 5

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

The full step-by-step solution to problem: 44E from chapter: 3 was answered by , our top Business solution expert on 07/21/17, 05:42AM. This textbook survival guide was created for the textbook: Statistics for Business and Economics , edition: 12. This full solution covers the following key subjects: stated, option, decision, guilt, Find. This expansive textbook survival guide covers 15 chapters, and 1631 solutions. The answer to “Guilt in decision making. The effect of guilt emotion on how a decision maker focuses on a problem was investigated in the Jan. 2007 issue of the Journal of Behavioral Decision Making (see Exercise 1.30, p. 27). A total of 171 volunteer students participated in the experiment, where each was randomly assigned to one of three emotional states (guilt, anger, or neutral) through a reading/writing task. Immediately after the task, students were presented with a decision problem where the stated option had predominantly negative features (e.g., spending money on repairing a very old car). The results (number responding in each category) are summarized in the accompanying table. Suppose one of the 171 participants is selected at random.EmotionalStateChoose StatedOptionDo Not ChooseStated OptionTotalsGuilt451257Anger85058Neutral74956Totals60111171Source: Based on Gangemi, A., & Mancini, F. “Guilt and focusing in decisionmaking,” Journal of Behavioral Decision Making, Vol. 20, Jan. 2007 (Table 2).a. Find the probability that the respondent is assigned to the guilty state.b. Find the probability that the respondent chooses the stated option (repair the car).c. Find the probability that the respondent is assigned to the guilty state and chooses the stated option.d. Find the probability that the respondent is assigned to the guilty state or chooses the stated option.” is broken down into a number of easy to follow steps, and 203 words. Statistics for Business and Economics was written by and is associated to the ISBN: 9780321826237. Since the solution to 44E from 3 chapter was answered, more than 2330 students have viewed the full step-by-step answer.

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Solved: Guilt in decision making. The effect of guilt