While Comparison Pricing Claims Are Legal If They Are Truthful

question 61

Multiple Choice

While comparison pricing claims are legal if they are truthful, the FTC warns sellers not to advertise a) factory or wholesale prices unless such prices are what they claim to be, b) comparable value prices on imperfect goods, or c) ________.

• A) a sale unless the products are available in sufficient quantity to meet expected demand
• B) in a way which confuses potential buyers of the product
• C) a description of a product unless all versions of the product are offered with the same pricing terms
• D) a price reduction unless it is a savings from the usual retail price
• E) if only a limited quantity are available at the reduced price

Formulate null and alternative hypotheses for testing differences between population means and proportions.

Understand and apply the concept of p-values in hypothesis testing to make informed decisions.

Interpret the results and implications of hypothesis tests in context, including understanding Type I and II errors.

Construct and interpret confidence intervals for population means and proportions, including understanding how sample size and confidence levels affect the width of confidence intervals.

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