Estimating Demand,price Is Not the Only Factor to Be Considered

question 130

Multiple Choice

estimating demand,price is not the only factor to be considered.Three other elements include consumer tastes,price and availability of similar products,and

• A) consumer income.
• B) consumer psychographics.
• C) current economic stressors.
• D) current political agendas.
• E) green substitutes.

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Definitions:

Analysis Of Variance

A statistical method used to determine the variance between two or more groups' means to see if they are significantly different from each other.

Variation

The occurrence of differences or deviations within processes, products, or data sets.

Longest Processing Time

A scheduling heuristic used in operations research for sequencing jobs to minimize the total time taken.

Most Profitable

Referring to the activity, product, or segment that generates the highest profit margin or net income compared to others.