In a 4 × 3 Factorial Design, for a Completely

question 14

Multiple Choice

In a 4 × 3 factorial design, for a completely independent groups design with 10 participants per group, how many participants are needed?

• A)120
• B)30
• C)70
• D)60

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Definitions:

Demand-oriented

Refers to pricing strategies that are based on the consumer's demand for a product or service.

Prestige Pricing

A pricing strategy where goods are priced higher than their objective market value to give them an appearance of luxury and quality.

Price Lining

is a pricing strategy where products are sold at a limited number of price points, each representing a distinct level of quality or features.

Odd-even Pricing

A pricing strategy involving setting prices so they end in an odd or even number to influence perception of value.