One Retailer Sells All Items for 99 Cents and Another

question 80

Multiple Choice

One retailer sells all items for 99 cents and another retailer sells all items for $1.00.These are both examples of ________.

• A)gap analysis
• B)capacity management
• C)disintermediation
• D)perishability
• E)odd-even pricing

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Definitions:

Continuous Random Variable

A variable that can take an infinite number of possible values in a continuum within a given range, such as any real number between two points.

Continuous Random Variable

A random variable that can take an infinite number of possible values.

Continuous Probability Distribution

A type of probability distribution where the possible outcomes form a continuum and can take on any value within a given range.

Probability Density Function

Probability density function is a function that describes the likelihood of a random variable to take on a given value, primarily used in continuous probability distributions.