Risky Decisions for financial decisions

PSY 375 Module Six Lab Worksheet Template

 

Complete this template by replacing the bracketed text with the relevant information. All responses to lab questions should be in your own words or paraphrased.

 

Monty Hall Lab

Data

· Insert your data in the table below.

Strategy Winning Percent
[Insert text] [Insert value]
[Insert text] [Insert value]

 

· Insert a screenshot of the lab output below.

[Insert screenshot]

 

Lab Questions

· Did your results match those predicted as described in the output? Explain how your results did or did not match the prediction.

[Insert text]

 

· Why does switching your choice lead to better odds in the long run?

[Insert text]

 

Wason Selection Lab

Data

· Insert your data in the table below.

Condition Mean Number of Cards Correct
[Insert text] [Insert value]
[Insert text] [Insert value]

 

· Insert a screenshot of the lab output below.

[Insert screenshot]

 

Lab Questions

· Why should we expect that the proportion correct should be higher for the thematic rules?

[Insert text]

 

· What does the Wason Selection task tell us about seeking confirmation of our beliefs versus seeking falsification of our beliefs?

[Insert text]

 

Risky Decisions Lab

Data

· Insert your data in the table below.

Condition Less Risky Riskier
[Insert text] [Insert value] [Insert value]
[Insert text] [Insert value] [Insert value]
[Insert text] [Insert value] [Insert value]
[Insert text] [Insert value] [Insert value]

 

· Insert a screenshot of the lab output below.

[Insert screenshot]

 

Lab Questions

· Did you get the predicted results? If so, how so? If not, why not?

[Insert text]

 

· What does this study demonstrate? In other words, what is the main point of this experiment?

[Insert text]

 

Module Question

 

· What is the relevance of the Wason Selection task and Risky Decisions for financial decisions?

[Insert text]

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