Does correction for guessing improve the realism in absolute and relative frequency judgements?

Abstract: The present study investigated the effects of three factors on the level of realism in frequency judgements. These factors were: Instruction (No correction for guessing/Correction for guessing), Format (whether the frequency judgements were made in terms of absolute numbers or in percent) and Difficulty level (easy/hard set of questions). All three factors were found to have a significant effect on the level of the frequency judgements and their realism. In addition, there were no interaction effects. The results suggest that the level and the realism of frequency judgements are both affected by different factors. Correction for guessing improved the realism in frequency judgements, however, only on the set of easy questions and markedly only in the relative format.