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Statistics Through Applications | 2nd Edition | ISBN: 9781429219747 | Authors: Daren S. Starnes
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On sale A researcher wants to study the eff ect of price

Chapter 6, Problem 6.1

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QUESTION:

On sale A researcher wants to study the eff ect of price promotions on consumers expectations. Th e researcher makes up two diff erent histories of the store price of a video game for the past year. Students in an economics course view one or the other price history on a computer. Some students see a steady price, while others see regular promotions that temporarily cut the price. Th en the students are asked what price they would expect to pay for the video game. (a) Is this study an experiment? Why? (b) Identify the explanatory and response variables, the subjects, and the treatments.

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QUESTION:

On sale A researcher wants to study the eff ect of price promotions on consumers expectations. Th e researcher makes up two diff erent histories of the store price of a video game for the past year. Students in an economics course view one or the other price history on a computer. Some students see a steady price, while others see regular promotions that temporarily cut the price. Th en the students are asked what price they would expect to pay for the video game. (a) Is this study an experiment? Why? (b) Identify the explanatory and response variables, the subjects, and the treatments.

ANSWER:

Problem 6.1

On sale A researcher wants to study the effect of price promotions on consumers expectations. The researcher makes up two different histories of the store price of a video game for the past year. Students in an economics course view one or the other price history on a computer. Some students see a steady price, while others see regular promotions that temporarily cut the price. Then the students are asked what price they would expect to pay for the video game.

(a) Is this study an experiment? Why?

(b) Identify the explanatory and response variables, the subjects, and the treatments.

Step by step solution:

Step 1:

(a)

Experiments involve active data production and the experimenters actively intervene by imposing some treatment in order to see what happens.

This study is an experiment because the researcher imposes a treatment,ie; one of two price histories.

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