Calculate the Final Selling Price

question 26

Short Answer

Calculate the final selling price.
$$\begin{array} { | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Original } \\\text { SellingPrice }\end{array} & \begin{array} { c } 1 \text { st } \\\text { Markdown }\end{array} & \begin{array} { c } \text { 2nd } \\\text { Markdown }\end{array} & \text { Markup } & \begin{array} { c } \text { Final } \\\text { Markdown }\end{array} & \begin{array} { c } \text { Final Selling } \\\text { Price }\end{array} \\\hline \$ 7,000 & 15 \% & 10 \% & 8 \% & 8 \% & - - \\\hline\end{array}$$

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Definitions:

Hawthorne Effect

Modification of behavior by study participants due to their awareness of being observed, highlighting the influence of observation on research outcomes.

Reactivity

The extent to which people alter their behavior or responses due to being observed or knowing they are being studied.

Subjectivity

The quality of being based on or influenced by personal feelings, tastes, or opinions.

Overgeneralization

The logical fallacy of making broad assumptions based on limited evidence or a few case studies.