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Using Dynamic Pricing a Company Monitors Price Changes on a Constant

question 31

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Using dynamic pricing a company monitors price changes on a constant basis and adjusts its prices effortlessly.


Definitions:

Measures of Dispersion

Mathematical computations that represent the diversity or range within a collection of numerical values.

Range

The difference between the maximum value and minimum value in a data set.

Central Tendency

Statistics referring to the middle or typical value within a dataset, represented by measures such as mean, median, and mode.

Mean

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

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