It sounds like you have solid reasons to support your opinion that the psychology experiment is invalid.
Any research project is only as good as the data collected and analyzed or interpreted. If the sample group is not a valid representation of the total population that could be affected by the hypothesis situation, that is a real problem. You mention three variables - age, socio-cultural background, and small sample size - that definitely could compromise the results of the experiment. Your extraneous flaws are also real concerns when considering the accuracy and truthfulness of the responses gathered.
Because you perceive a number of flaws in the experiment's execution, you absolutely are justified in mentioning them all in your report.
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