In the Preview section for this chapter, we presented an example of a delayed discounting study in which people are willing to settle for a smaller reward today in exchange for a larger reward in the future. The following data represent the typical results from one of these studies. The participants are asked how much they would take today instead of waiting for a specific delay period to receive $1000. Each participant responds to all 5 of the delay periods. Use a repeatedmeasures ANOVA with α = .01 to determine whether there are significant differences among the 5 delay periods for the following data:
Participant 1 month 6 months 1 year 2 years 5 years A 950 850 800 700 550 B 800 800 750 700 600 C 850 750 650 600 500 D 750 700 700 650 550 E 950 900 850 800 650 F 900 900 850 750 650