Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. You have assigned your staff member, Troy, to divide a group of survey participants into a treatment group and a control group. The intent is tell Group A that gas prices have increased, and group B will be told that gas prices have not changed. Participant members will then be surveyed about their purchasing habits. When you come back from lunch you notice how Troy has set up the groups: Number of people Number of Men Number of Women Group A 75 2 73 Group B 75 70 5 You tell Troy that...... because the groups are........
Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. You have assigned your staff member, Troy, to divide a group of survey participants into a treatment group and a control group. The intent is tell Group A that gas prices have increased, and group B will be told that gas prices have not changed. Participant members will then be surveyed about their purchasing habits. When you come back from lunch you notice how Troy has set up the groups: Number of people Number of Men Number of Women Group A 75 2 73 Group B 75 70 5 You tell Troy that...... because the groups are........
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose you have been hired as a management consultant by a major oil company to help it optimally price gasoline at its service stations. You have assigned your staff member, Troy, to divide a group of survey participants into a treatment group and a control group. The intent is tell Group A that gas prices have increased, and group B will be told that gas prices have not changed. Participant members will then be surveyed about their purchasing habits.
When you come back from lunch you notice how Troy has set up the groups:
| Number of people | Number of Men | Number of Women | |
| Group A | 75 | 2 | 73 |
| Group B | 75 | 70 | 5 |
You tell Troy that...... because the groups are........
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