Save-A-Bunch Hardware Has Tripled Its Prices for Plywood and Other

question 64

Multiple Choice

Save-a-Bunch Hardware has tripled its prices for plywood and other building supplies after a tornado strikes the area.What business practice is Save-a-Bunch Hardware demonstrating?

• A) price gouging
• B) price wars
• C) price fixing
• D) collusion
• E) buying out competitors

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Definitions:

Mean

The average of a set of numbers, calculated by adding them together and dividing by the count of numbers.

Sample Variance

A measure of variability within a sample dataset, calculated by taking the sum of squared differences from the mean divided by the number of observations minus one.

Standard Deviation

A statistics metric that quantifies the variation or dispersion of a set of values.

Sample Mean

The average value of a sample, calculated by summing all the observations and dividing by the number of observations in the sample.