Test Markets Are Which of the Following Type of Experiment

question 31

Multiple Choice

Test markets are which of the following type of experiment?

• A)controlled experiment
• B)exploratory experiment
• C)field experiment
• D)laboratory experiment
• E)none of the above

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Definitions:

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the mean.

Z Score

A statistical measurement that describes a value's relationship to the mean of a group of values, expressed in standard deviations.

Mean

The arithmetic average of a set of numbers, calculated by dividing the sum of the numbers by the count of numbers in the set.