Question

Fill in each blank with one of these terms: naturalistic observation, case studies, correlational research, positive correlation, negative correlation. Researchers have found that the more credit cards people have, the less money they tend to have in their savings accounts. These researchers have discovered a _________________ between the number of credit cards and the amount of savings.

Short answer

Researchers have found that the more credit cards people have, the less money they tend to have in their savings accounts. These researchers have discovered a negative correlation between the number of credit cards and the amount of savings.

Step-by-step solution

Understand the terms

First, let's explain each of the terms provided. - Naturalistic observation: A research method where researchers observe subjects in their natural environments without manipulating the situation. - Case studies: An in-depth exploration of a specific individual, group, or situation, often used for exploratory purposes. - Correlational research: A research method where researchers try to examine the relationships between variables without manipulating them. - Positive correlation: A relationship between two variables where an increase in one variable is associated with an increase in the other variable. - Negative correlation: A relationship between two variables where an increase in one variable is associated with a decrease in the other variable.

Analyzing the scenario

The given scenario states that researchers found that the more credit cards people have, the less money they tend to have in their savings accounts. This is a situation where an increase in one variable (number of credit cards) is associated with a decrease in another variable (amount of savings).

Identify the correct term

Based on our understanding of the terms and the scenario provided, the relationship between the number of credit cards and the amount of savings can be best described as a "negative correlation." When the number of credit cards increases, the amount of savings tends to decrease.

Final Output

Researchers have found that the more credit cards people have, the less money they tend to have in their savings accounts. These researchers have discovered a negative correlation between the number of credit cards and the amount of savings.

Key concepts

Negative Correlation

A negative correlation occurs when we observe an inverse relationship between two variables. If one variable goes up, the other tends to go down. In the context of the original exercise, we see an example of this relationship between the number of credit cards a person possesses and the amount of savings they have.

This means:

• As the number of credit cards increases, savings typically decrease.
• Conversely, if there are fewer credit cards, there might be more savings available.

Negative correlations do not imply causation. In other words, simply possessing more credit cards does not directly cause people to save less. Instead, there may be underlying factors influencing both variables. Understanding negative correlation is crucial in various fields, such as psychology and economics, because it helps identify and predict patterns without assuming one variable directly affects another.

Correlational Analysis

Correlational analysis is a statistical method used to study the strength and direction of relationships between two variables. This method is widely used when experimental manipulation is not feasible or ethical.

In the exercise scenario, the researchers utilized correlational analysis to discover a link—negative correlation—between credit card abundance and savings levels. It involves identifying:

• The direction of the correlation:
  • Positive, if variables move in the same direction, or
  • Negative, if variables move in opposite directions.
• The strength of the correlation: Measured on a scale between -1 and 1, where values close to -1 or 1 imply strong correlations while values near 0 suggest weak correlations.

Correlational analysis can highlight potential risks or areas for further research without suggesting cause-and-effect relationships. This feature is particularly useful for generating hypotheses for future experimental research.

Research Methods

Research methods are strategies or techniques employed by researchers to collect and analyze data. They form the backbone of reliable research findings across various fields.

In the given exercise about credit cards and savings, correlational research was used. This is a type of non-experimental research method. Researchers observe variables as they naturally occur, rather than manipulating or controlling them. Other notable research methods include:

• Experimental Research: Involves manipulating one variable to observe effects on another, thereby establishing cause-and-effect relationships.
• Case Studies: Provide detailed analysis of a particular subject, helping to understand complex issues in real-life contexts.
• Naturalistic Observation: Entails observing subjects in their usual environment without interference, useful for obtaining authentic insights.

Selecting the right research method depends on the research question, ethical considerations, and practical constraints. Correlational research was apt for this scenario as it allowed for analysis of naturally existing relationships without manipulation.