A company that is interested in determining which of three prices to charge for its products has test marketed the product in three cities,each time using a different price for the product.The number of products sold in the first week is recorded.In this case,the data are considered to have been collected using an experiment.

Question

Quizplus · Accepted Answer

The scenario describes a test where the company deliberately manipulates the price of the product in three different cities and observes the resulting sales. This meets the definition of an experiment, which involves manipulating an independent variable (price) to observe its effect on a dependent variable (product sales). Therefore, the statement is true.

A Company That Is Interested in Determining Which of Three