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Suppose an airline determines that its customers traveling for business have inelastic demand and its customers traveling for vacations have an elastic demand.If the airline's objective is to increase total revenue,it should
Selection Differences
Differences that arise in experimental research from the methods used to select participants for groups, potentially biasing the results.
Random Assignment
A method used in experiments to evenly distribute participants across various groups by chance, minimizing biases and ensuring groups are comparable.
Two Groups
Refers specifically to an experimental design wherein participants are divided into two distinct groups, often an experimental group and a control group.
Separate Control Group
A group in an experiment that is not exposed to the treatment or intervention and is used as a benchmark to measure the effects of such treatment.
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