Question: . Risk Aversion: Ashort self-report inventory is developed for risk aversion.Four self-report items (items 1 to 4) are used and rated in the same manner

. Risk Aversion:Ashort self-report inventory is developed for risk aversion.Four self-report items (items 1 to 4) are used and rated in the same manner on a 10-point rating scale.High scores = more aversion.Using Alpha as a guide, can the scale be made more reliable by eliminating one item?Which item?What is improvement? Show Alphas. Why do you think any improvement occurs? Given the Alpha you uncovered with the removal of an item, what can you say about the scale's potential to be unidimensional? Let's say we add an "overall how much of a risk taker are you" type question to the inventory. What would likely impact on Alpha be?Why? Does this additional overall item assess more of the domain of risk taking? Why?

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