A Crosstab Is Created with the Independent Variable as the Column

question 16

Multiple Choice

A crosstab is created with the independent variable as the column variable and the dependent variable as the row variable. In order to determine the effect of the independent variable on the dependent variable, should you use

• A) column percentages
• B) row percentages
• C) total percentages
• D) it doesn't matter which percentages you use

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, indicating how sensitive consumers are to price changes.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Relatively Inelastic

Describes a situation where the demand or supply for a good or service changes only slightly in response to changes in price.

Price Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to its price change.