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USA Today reported that the stock market ends the year with a gain if the Super Bowl is won by one of the original NFL members: which are all of the NFC teams that remained and the three NFL teams that became AFC teams (Indianapolis Colts, Pittsburgh Steelers, and Cleveland Browns).

If the study is correlational:
a) Identify the variables
b) Briefly describe how the variables are related and whether the correlation is positive or negative
c) Describe how variable A might cause variable B.
d) Describe how variable B might cause variable A.
e) List possible third variables or confound causes that might also be causing or influencing the results.

If the study is experimental, briefly describe:
a) The hypothesis
b) The independent variable
c) The dependent variable
d) The experimental group
e) The control group

Answer :

Fichohgo

The study described in the scenario above is a correlational study.

  • Variables are : stock market price(gain) and teams in the superbowl

  • A gain in the stock market means a win for either of (Indianapolis Colts, Pittsburgh Steelers, and Cleveland Browns) ; meaning that a loss for either will mean a loss in the stock market. Correlation is positive.

  • Gain in the stock market requires that either of the following teams wins the superbowl ((Indianapolis Colts, Pittsburgh Steelers, and Cleveland Browns).

  • A win for either of the teams (Indianapolis Colts, Pittsburgh Steelers, and Cleveland Browns). mean a gain for the stock market.

  • Result might be confounded by another USA stock related event which is different from the superbowl such as an economic event.

Correlation study differs from experimental study in that correlational study evaluates trends and pattern in a data without having to introduce a treatment. While Experimental study introduces a treatment before making an evaluation.

Relationship between variables are observed and measured between USA stock market price and teams left in the superbowl.

Confounding variables are variables which aren't considered as part of our study but are capable of affecting our result. In this scenario, not only the outcome of the superbowl game is capable of affecting the stock market but other actions or polices which may be economic or political.

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