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Solved: Value perceptions of consumers. Refer to the

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 10E Chapter 9

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 10E

Problem 10E

Value perceptions of consumers. Refer to the Journal of Consumer Research study of whether between-store comparisons result in greater perceptions of value by consumers than within-store comparisons, Example 1.9 (p. 19). Recall that 50 consumers were randomly selected from all consumers in a designated market area to participate in the study. The researchers randomly assigned 25 consumers to read a within-store price promotion advertisement (“was $100, now $80”) and 25 consumers to read a between-store price promotion (“$100 there, $80 here”). The consumers then gave their opinion on the value of the discount offer on a 10-point scale (where 1 = lowest value and 10 = highest value). The goal was to compare the average discount values of the two groups of consumers.

a. What is the response variable for this study?

b. What are the treatments for this study?

c. What is the experimental unit for this study?

Step-by-Step Solution:

Problem 10E

Value perceptions of consumers. Refer to the Journal of Consumer Research study of whether between-store comparisons result in greater perceptions of value by consumers than within-store comparisons, Example 1.9 (p. 19). Recall that 50 consumers were randomly selected from all consumers in a designated market area to participate in the study. The researchers randomly assigned 25 consumers to read a within-store price promotion advertisement (“was $100, now $80”) and 25 consumers to read a between-store price promotion (“$100 there, $80 here”). The consumers then gave their opinion on the value of the discount offer on a 10-point scale (where 1 = lowest value and 10 = highest value). The goal was to compare the average discount values of the two groups of consumers.

a. What is the response variable for this study?

b. What are the treatments for this study?

c. What is the experimental unit for this study?

                                                        Step-by-step solution

Step 1 of 3

The Journal of Consumer Research study of whether between-store comparisons result in greater perception of value by consumers than within-store comparisons, 50 consumers were randomly selected from all consumers in a designed market area to participate in the study. The researchers randomly assigned 25 consumers to read a within-store price promotion advertisement and 25 consumers to read a between-store price promotion. The consumers then gave their opinion on the value of the discount offer on a 10-point scale. The goal is to compare the average discount values of the two groups of consumers.

a) Between-store price promotion is the response variable for this study.

Step 2 of 3

Chapter 9, Problem 10E is Solved
Step 3 of 3

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

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