Odd-Even Pricing Is Also Called

question 12

Multiple Choice

Odd-even pricing is also called:

• A) psychological pricing
• B) 1-2 pricing
• C) bait pricing
• D) price bundling
• E) two-part pricing

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Definitions:

Multiple Comparison Methods

Multiple comparison methods are statistical procedures used to evaluate differences among three or more group means while controlling for the probability of making type I errors.

Fisher's LSD Procedure

A statistical method used for comparing means when the null hypothesis has been rejected in an ANOVA test, standing for Least Significant Difference.

ANOVA

Stands for Analysis of Variance, a statistical method used to determine the existence of significant differences between the means of three or more independent groups.

F-test

A statistical test used to compare either two variances or the variances of more than two groups at the same time.