Management at a Home Improvement Store Randomly Selected 45 Customers

question 103

Multiple Choice

Management at a home improvement store randomly selected 45 customers and observed their shopping habits. They recorded the number of items each of the customers purchased as well as the total time the customers spent in the store. Identify the types of variables recorded by the managers of the home improvement store.

• A) number of items - continuous; total time - discrete
• B) number of items - discrete; total time - discrete
• C) number of items - continuous; total time - continuous
• D) number of items - discrete; total time - continuous

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Definitions:

Independence of Irrelevant Alternatives

A principle in decision theory stating that the preference between two options should not change because of the introduction of new alternatives.

Median Voter

A theoretical concept that suggests the outcome of a majority vote is most likely to represent the preferences of the voter who is in the middle of the political spectrum.

Majority Rule

A decision rule that selects alternatives which have a majority, that is, more than half the votes.

Median Voter Theorem

A political science theory suggesting that the outcome of a majority-vote election is most likely to represent the preferences of the median voter.