The Data Below Are the Final Exam Scores of 10

question 43

Essay

The data below are the final exam scores of 10 randomly selected history students and the number of hoursthey studied for the exam. $$\begin{array} { l | c | c | c | c | c | c | c | c | c | c | } \text { Hours, } \mathrm { x } & 3 & 5 & 2 & 8 & 2 & 4 & 4 & 5 & 6 & 3 \\\hline \text { Scores, } \mathrm { y } & 65 & 80 & 60 & 88 & 66 & 78 & 85 & 90 & 90 & 71\end{array}$$

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Definitions:

Vertical Price Fixing

An agreement among participants on different levels of the same supply chain to control prices passed on to consumers.

Tying Arrangement

A business agreement in which the sale of one product or service is linked to the purchase of an additional product or service.

Exclusive Dealing

A sales strategy where a seller requires a buyer to purchase only its products and not those of competitors.

Vertical Price Fixing

An illegal practice where parties at different levels of the same supply chain (such as manufacturers and retailers) agree to set and maintain prices at a certain level.