As I promised a few weeks ago, I have a brief report outlining the results from the survey I conducted comparing two different mortgage calculation procedures. For the truly curious, here it is.
Club Troppo
Fearlessly dispensing political, legal and economic analysis (and some whimsy) since 2002
Just a note about your data — higher error rates with faster responses is a really common pattern. However, it’s not necessarily task related. It may simply be that one group feels more pressured to respond faster than another, and that may just be bad luck in terms of sampling.
Jacques, you say: “Poor procedure quality. Procedure B was hastily compiled. Initially it contained a mistake in the formula and did not include the Interest and Terms for participants.”
This is incorrect. The problem wasn’t just with Procedure B, it was with both A and B. As I said back then:
“Procedure A omits the required values for principal, term and interest rate. Procedure B has the wrong formula – you cant just plug the value 6 into the calculator as the interest rate. It needs to be divided by 100.”
After this, you corrected both mistakes (so you said, but I didn’t check).
You said that you excluded the results from Procedure A prior to the correction, but you really should have excluded the results from both Procedures A and B.