Suppose you wish to investigate the effects of anchoring and expertise on people's evaluation of house prices. Anchoring-also known as the adjustment heuristic- occurs when people's evaluation is biased by previous information given (i.e., the anchor). You collect a random sample of 9 experts in house evaluation and 9 non- experts. Each of these 18 participants (Y1 - Y18) either receives no anchor (control), a high anchor (high) or a low anchor (low), and then evaluates the price of a given house. The data (in million CAD) for this example are shown in the table below. Anchor Expertise No High Low Experts Y1 = 1.25 Y7 = 1.55 Y13 = 2.66 Y2 = 1.45 Y8 = 1.60 Y14 = 2.43 %3D Y3 = 1.50 Y9 = 2.25 Y15 = 2.10 Non-experts Y4 = 0.99 Y10 = 1.71 Y16 = 2.15 Y5 = 1.24 Y11 = 2.16 Y17 = 2.89 Y6 = 2.31 Y12 = 3.12 Y18 = 1.55

Suppose you wish to investigate the effects of anchoring and expertise on people's evaluation of house prices. Anchoring-also known as the adjustment heuristic- occurs when people's evaluation is biased by previous information given (i.e., the anchor). You collect a random sample of 9 experts in house evaluation and 9 non- experts. Each of these 18 participants (Y1 - Y18) either receives no anchor (control), a high anchor (high) or a low anchor (low), and then evaluates the price of a given house. The data (in million CAD) for this example are shown in the table below. Anchor Expertise No High Low Experts Y1 = 1.25 Y7 = 1.55 Y13 = 2.66 Y2 = 1.45 Y8 = 1.60 Y14 = 2.43 %3D Y3 = 1.50 Y9 = 2.25 Y15 = 2.10 Non-experts Y4 = 0.99 Y10 = 1.71 Y16 = 2.15 Y5 = 1.24 Y11 = 2.16 Y17 = 2.89 Y6 = 2.31 Y12 = 3.12 Y18 = 1.55

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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