The two basic sources for error when using random sampling are _____ error.
A. sampling and selection
B. identification and selection
C. sampling and nonsampling
D. bias and randomness
Answer: C
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The largest percentage of products sold from vending machines are ________.
A. movies and videos B. candy and snacks C. food D. cold beverages E. personal items
Describe the concept of price elasticity and draw a graph comparing consumers with high and low elasticity
What will be an ideal response?
When Apple released its first iPhone in 2007, it charged customers $599. Shortly thereafter, it reduced the price to $399 for the exact same device. Apple's decision to set a relatively high price for a period of time after the product launched and then decrease the price to a level that would be more sustainable over time reflects which pricing strategy?
A. survival pricing B. underpricing C. target pricing D. profit maximization E. volume maximization
Firms focusing on cost leadership tend to
A) locate facilities close to the market they serve. B) locate facilities very far from the market they serve. C) find the lowest cost location for their manufacturing facilities. D) select a high-cost location to be able to react quickly.