7. In an experiment on decision making executives s were exposed to one of 3 methods of quantifying the maximum risk premium they are willing

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7. In an experiment on decision making executives s were exposed to one of 3 methods of quantifying the maximum risk premium they are willing to pay to avoid uncertainty in a business decision Utility, worry and comparison methods. Fifteen executives were grouped into groups of 3 according to age. For example, groupl consisted of the 3 oldest executives and within each group one of 3 methods was assigned to each group member and his/her 'degree of confidence' for the assigned method was recorded. Treatment design: Randomization design: 8. A chemist is studying the reaction rate of five chemical agents at 3 different temperature levels: low, medium and high. Only five agents can be analyzed effectively per day and low temperature is feasible during morning hours, middles during mid-afternoon, and the high temperature can be tests only during the late afternoon. Treatment design: Randomization design