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, whereas 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. 1. Franklin 2. James 3. Wright 4. Edwards 5. Rust 6. Walsh 7. Gofberg 8. 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: Edwards, Franklin, Williams, and James. Franklin, James, Wright, and Edwards. Rust, Walsh, Gofberg, and Williams. Wright, Rust, Walsh, and Gofberg

Explanation / Answer

Subject numbers for steady group will be: 4 1 8 2

Hence,

Subject numbers left for fluctuating price group is: 3 5 6 7

Subjects assigned to fluctuating price group are:

Wright, Rust, Walsh, Gofberg

Option D is correct.

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