Because Retailers Have to Be Concerned with Product Selection, Price

question 1

Multiple Choice

Because retailers have to be concerned with product selection, price, and space, they often evaluate products on the basis of

• A) their markup.
• B) sales per square foot of selling area.
• C) how many of the product they can fit in a certain amount of space.
• D) profit per dollar of selling price.
• E) the reliability of the supplier.

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Definitions:

Set of Data

A collection of numbers, measurements, or observations collected for reference or analysis in a study or experiment.

Median

The middle value in a data set when the values are arranged in ascending or descending order, or the average of the two middle values when there is an even number of values.

Set of Data

A collection of related data points, values, or pieces of information that are grouped together for analysis.

Modal Ethnicity

The most frequently occurring ethnicity within a given population or dataset.