What Are the Three Categories of Pricing Objectives for Services

question 56

Multiple Choice

What are the three categories of pricing objectives for services?

• A)sales, quality, and location oriented
• B)quality, value, and consumer oriented
• C)revenue, operations, and patronage oriented
• D)turnover, volume, and capacity oriented

---

Definitions:

Sample Size

The number of observations or datapoints collected in a sample, critical in determining the precision of estimates and power of statistical tests.

Type II Error

The statistical mistake of failing to reject a null hypothesis when it is actually false.

Null Hypothesis

A statistical hypothesis that proposes there is no significant difference or effect within the specified population.

Alternative Hypothesis

A hypothesis that contradicts the null hypothesis, asserting there is a significant difference or effect.