What Is Dynamic Pricing and How Is It Used in E-Commerce

question 37

Essay

What is dynamic pricing and how is it used in e-commerce?

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Definitions:

Standard Deviation

A measure of how spread out numbers are in a dataset, indicating the variation or dispersion around the mean.

Programming Ability

The skill or competence in creating and understanding computer programs and software using different programming languages.

Null Hypothesis

The default assumption in statistical analysis that there is no significant difference or effect.

Mean Age

The average age of all individuals in a specific group, calculated by adding their ages together and dividing by the number of individuals.