Imagine That You Are Approaching a Bake Sale Table and the Saleswoman

question 102

Multiple Choice

Imagine that you are approaching a bake sale table and the saleswoman tells you that the price of a cupcake is $1.00.While you are deciding,she reduces the price to $0.75 for the same cupcake.You are ________ likely to buy the cupcake than if you were originally presented with a price of $0.75 because ________.

• A) more; you perceive the deal as a concession on the part of the salesperson
• B) more; you will be affected by the commitment/consistency principle
• C) less; you will anchor your judgment to the price of $1.00
• D) less; you will experience psychological reactance at the price change

Understand the concept and computation of quartiles within the context of the normal distribution.

Identify the characteristics that define a continuous random variable.

Understand the impact of standard deviation on the shape of the normal curve.

Distinguish between different probability distributions and identify the characteristics unique to normal distributions.

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Definitions:

Purporting

Presenting or claiming something to be true, often without offering proof or evidence.

Express Authority

The power granted intentionally to an agent by a principal, often in written form, to perform specific acts on the principal's behalf.

Words

Fundamental units of language, composed of one or more sounds or their written representation, that function as the principal carriers of meaning.

Actions

Legal proceedings taken by a party or parties in a dispute.