Tickets to a Combined Amusement Park and Water Slide Were

question 126

Multiple Choice

Tickets to a combined amusement park and water slide were $49 for the day.Then the company gave customers the option to purchase tickets for either the amusement park or the water slide for $18.To help keep costs in line,the park management also began charging its customers a small parking fee.Initially,the cost of parking was figured into the $49 price.The amusement park is using:

• A) price lining.
• B) potential (or base) pricing.
• C) Unbundling.
• D) professional services pricing.
• E) price maintenance.

---

Definitions:

Multiple Regression Model

A statistical technique that uses several explanatory variables to predict the outcome of a response variable.

Error Term

The error term represents the difference between observed values and the values predicted by a model in statistical analysis.

Independent Variables

Variables in an experiment or model that are manipulated or categorized to observe their effect on dependent variables.

Goodness of Fit

A statistical test used to determine how well observed data match the expected data from a model.