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The Strategy of Charging Prices Based on Consumer Demand Rather

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The strategy of charging prices based on consumer demand rather than cost or a predetermined profit margin represents


Definitions:

Independent Variables

Factors in an experiment that are intentionally varied to observe their impact on other variables, essentially the same as an independent variable but rephrased.

One-Way Analysis

Often refers to one-way analysis of variance (ANOVA), a statistical method used to compare the means of three or more samples using variances.

Dependent Variable

A variable in an experiment that is expected to change as a result of manipulations made to the independent variable.

Manipulation Check

A test used to determine whether the manipulation of the independent variable has had the intended effect on the subjects.

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