Examlex
Firms who are attempting to engage in price discrimination will offer customers with a ________ demand a higher price and customers with a(n) ________ demand a lower price.
Interval Scale
A scale of measurement where the intervals between numbers on the scale are all equal in size.
Standard Deviation
The average deviation of scores from the mean (the square root of the variance).
Variance Data
Variance data measures the spread of a set of numbers, indicating how much individual numbers in a dataset differ from the mean.
Mean Value
The mean value is a measure of central tendency, calculated by adding all the numbers in a set together and dividing by the count of numbers.
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