Some of the Theme Parks in Orlando, Florida Offer Lower

question 42

Multiple Choice

Some of the theme parks in Orlando, Florida offer lower entry rates or annual passes for Florida residents. Although this is not illegal, it is an example of:

• A)price gouging.
• B)first-degree price discrimination.
• C)second-degree price discrimination.
• D)third-degree price discrimination.

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Definitions:

Central Tendency

A statistical measure that identifies a single value as representative of the middle or typical value of a dataset, commonly found using mean, median, or mode.

Variation

The occurrence of differences among individuals, groups, or populations, often leading to evolutionary change.

Standard Deviation

A statistical measure that represents the dispersion or variance in a set of data points from its mean.

Measure of Variation

A statistical tool used to describe the distribution or spread of data points in a dataset, common measures include variance, standard deviation, and range.