The Sign of the Correlation (+/-) Is Generally Meaningless for the Point-Biserial

question 29

True/False

The sign of the correlation (+/-) is generally meaningless for the point-biserial correlation and the phi-coefficient.

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Definitions:

Target Pricing

A pricing strategy where the selling price of a product is calculated based on the desired profit margin and the cost to make or buy the product, aiming to ensure competitiveness and affordability.

Product Composition

The combination of different components, materials, or elements that make up a product.

Prestige Pricing

A pricing strategy where prices are set higher than normal because the product is perceived to have a higher value and status.

Price Lining

A pricing strategy that involves offering products at several different price points to provide options for different customer segments.