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A florist which specialises in wedding arrangements is reassessing their pricing.Using the three foundations of pricing strategy, what advice would you give them?
Pessimistic Scenarios
Situations that are imagined or forecasted, based on negative outcomes or the worst possible circumstances.
Simple Regression
A statistical method used to understand and quantify the relationship between two quantitative variables, typically involving one independent variable and one dependent variable.
Independent Variable
In research and statistics, the variable that is manipulated to observe its effect on a dependent variable.
Scenario Forecasting
A planning method used to make flexible long-term plans based on various predicted future scenarios.
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