The important conclusion that can be drawn from Schachter and Singer's (1962) study on emotions is that

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Schachter and Singer's study showed that the same physiological arousal can be interpreted differently depending on the social context, indicating that social context plays a role in determining the subjective experience of emotion. The study did not conclude that every emotion has a specific and distinct set of physiological symptoms, nor did it suggest that arousal and happiness are the only two factors of emotion. It did demonstrate that physiological arousal can be influenced by cognitive interpretation and that subjective emotional experiences can vary based on the social context.

The Important Conclusion That Can Be Drawn from Schachter and Singer's