Which of the following is true about shopping bots?
a. They encourage a more creative use of advertising.
b. They create opportunities for prestige pricing.
c. They search the Web for the best price for a product.
d. They create inelastic demand.
ANSWER: c
A shopping bot is a program that searches the Web for the best price for a particular item that one wishes to purchase. Shopping bots theoretically give pricing power to consumers.
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Which of the following is not a problem associated with multicollinearity?
A) The partial regression coefficients may not be estimated precisely. The standard errors are likely to be high. B) It becomes difficult to assess the relative importance of the independent variables in explaining the variation in the dependent variables. C) Predictor variables may be incorrectly included or removed in stepwise regression. D) It becomes difficult to compute the correct test statistic.
Assuming that net cost of purchases was $58,000 during the year and that ending merchandise inventory was $1,000 less than the beginning merchandise inventory of $12,500, how much was cost of goods sold?
a. $69,500 b. $71,500 c. $59,000 d. $46,500
What is not a descriptor of a social entrepreneur?
a. Aims to create social value. b. Exercised whether as an individual or a group. c. Willing to accept above risk in the creation process. d. Is only interested in making money.
A ________ is a gradual, long-term, up-or-down movement of demand
A) seasonal pattern B) cycle C) trend D) prediction