When the Management Team Noted the Increased Interest in Bikes

question 38

Multiple Choice

When the management team noted the increased interest in bikes as a mode of commuting,bicycle manufacturer Sensta introduced utility bikes aimed at the urban commuter.In which of the following cases is the company following a plus-one pricing strategy?

• A)Sensta entered the market with a bike priced at $2,500,and later,as more competitors entered the market,reduced the price to $1,000.
• B)As the market for bikes in a particular city became saturated,Sensta raised the prices of its bikes hoping to gain maximum profit before exiting the market.
• C)With several competitors with similar product features in the utility bike market,Sensta concentrated on the sturdiness of its bikes,and raised the price of the basic model from $500 to $1,000.
• D)Sensta manufactures a basic model priced at $500,a bike with more features,priced at $1,500 and a deluxe model priced at $3,000.
• E)When Sensta entered the market,there were already competitors in the $1,000-$2,000 price range.Sensta introduced three bike models in the $500-$700 price range in order to capture market share,and later raised the prices of its products.

Apply knowledge of t tests in designing and interpreting research studies, especially in cases where matched pairs or repeated measures are involved.

Understand the assumptions required for conducting a t test for independent samples.

Grasp the concept of directional versus nondirectional hypotheses and their implications.

Learn how to compute the test statistic, including approximating sample size and pooling variances.

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Definitions:

Increase Attraction

Strategies or behaviors aimed at enhancing how appealing or desirable one person finds another.

Physical Contact

The act of touching or being in close proximity to another person, which can communicate nonverbal messages or establish connection.

Initiate a Relationship

The act of beginning or establishing a connection or rapport with someone.

Skills and Strategies

Abilities and carefully designed plans or methods aimed at achieving a specific goal.