Which of the Following Statements Regarding Odd-Even Pricing Is Most

question 147

Multiple Choice

Which of the following statements regarding odd-even pricing is most accurate?

• A)Odd-even pricing is designed to give the consumer a better set of pricing alternatives.
• B)Odd-even pricing can be used in conjunction with a skimming pricing strategy,but should not be used with a penetration pricing strategy.
• C)Odd-even pricing does not work if the product is health care-related.
• D)Overuse of odd-ending prices tends to mute its effect on demand.
• E)Odd-ending prices are best used with large ticket items;it loses its effectiveness with moderate- to low-ticket items.

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Definitions:

Standard Error

A measure of the variability of a statistic from sample to sample, often used to quantify the accuracy of a sample mean.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, representing how spread out the values are from the mean.

Sample Means

The average values calculated from samples drawn from a population; used in inferential statistics as estimates of the population mean.

Population Mean

The average value of a characteristic in the entire population being studied.