When Supermarkets and Department Stores Drop the Price on Well-Known

question 82

Multiple Choice

When supermarkets and department stores drop the price on well-known brands to stimulate store traffic, they are said to be following ________ pricing.

• A) value
• B) loss-leader
• C) special event
• D) high-low
• E) everyday low

---

Definitions:

Selection Bias

A distortion in a statistical analysis resulting from the method of collecting samples that is not random and therefore not representative of the population being studied.

Participant Bias

The influence that subjects in an experiment might have on the outcome due to their awareness of being observed or expectations about the experiment.

Random Sample

A sample that gives every member of the population an equal chance of being selected.

Population

The total number of inhabitants constituting a particular race, class, species, or area.