Another Name for a Binomial Variable Is a

question 61

Multiple Choice

Another name for a binomial variable is a

• A) random variable.
• B) systematic variable.
• C) participant variable.
• D) dichotomous variable.

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Definitions:

Odd-even Pricing

A pricing strategy that sets prices just below a round number (e.g., $19.99 instead of $20) to make the price seem lower than it actually is.

Customers' Responses

Feedback or reactions of customers to a product, service, or interaction with a business.

Price Lining

A pricing strategy where products or services are grouped into categories based on different price points to target various consumer segments.

Target Pricing

A pricing strategy where the selling price of a product is calculated based on the desired profit margin and the cost to make or buy the product, aiming to ensure competitiveness and affordability.