A researcher studying the effect of price cuts on consumers\' expectations makes

Question

A researcher studying the effect of price cuts on consumers' expectations makes up two different histories of the store price of a hypothetical brand of laundry detergent for the past year. Eight students in a class view one or the other price history on a computer. Some students see a steady price, while others see regular sales that temporarily cut the price. Students are asked the price they would expect to pay. The names of the eight subjects follow. Franklin James Wright Edwards Rust Walsh Gofberg Williams Use the following list of random digits: 41842 81868 71035 09001 43367 49497. Start at the beginning of this list and use single-digit labels to assign the first four subjects selected to have the steady price group, and the remaining four to the fluctuating price group. The subjects assigned to the fluctuating price group are: The response is a. the laundry detergent. b. the business students. c. the price they would expect to pay. d. the sale prices. The experimental units are a. all business students at the collage. b. the eight business students who participated. c. the business students who were in the fluctuating price group, d the price they would expect to pay. Outline the design of this experiment:

Explanation / Answer

The experiment, studying the effect of price cut on consumer's expectation, is modelled as follows:

There are 8 students, with 4 sees a steady price, there is a list of some random digits, the digits are assigned as follow, first number to the list of subjects who see steady price and other list with subjects who see temporarily cut in price.

The answers follow as :

The response is : the price they would expect to pay

The experimental units are: the eight business students who participated

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