Which of the Following Is an Example of a Psychological

question 84

Multiple Choice

Which of the following is an example of a psychological factor relevant to the pricing decisions made for a collectible doll that sells for $299?

• A) What is the discretionary income of prospective buyers of the doll?
• B) Will prospective buyers view the doll's high price as an indicator of high quality?
• C) Are the prospective buyers of the doll geographically clustered?
• D) How many prospective buyers can afford to pay this much for a doll?

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Definitions:

Reciprocity

Reciprocity refers to a mutual exchange between two parties, often used in the social sciences to describe social interactions.

Direction

In statistics, it often refers to the nature of the relationship between variables, indicating whether they move together in a positive or negative correlation.

Pearson Correlation

A measure of the linear correlation between two variables, giving a value between -1 and 1.

Linearity

The attribute of a relationship between two variables where the change in the outcome is directly proportional to the change in the predictor.