(a)
To find out is this study an experiment or not and explain why.
(a)
Answer to Problem 6.1E
Yes, this study is an experiment.
Explanation of Solution
Yes, this study is an experiment. An experiment deliberately imposes some treatment on individuals in order to observe their responses. We note that in this case the students are deliberately divided into two groups and each group gets to see a different price history and thus the study is an experiment.
(b)
To identify the explanatory and response variables, the subjects and the treatments.
(b)
Answer to Problem 6.1E
Explanatory variable:the price history.
Response variable: response variable.
Explanation of Solution
The explanatory variable is the variable that is changed to determine its effect and thus is in this case is the price history.
The response variable is the variable that responds to changes in the explanatory variable and thus is in this case is the consumer's expectation of the price.
Chapter 6 Solutions
Statistics Through Applications
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