Answer:
Independent variable: Prices on products posted
Dependent variable: Number of sales
Extraneous variable: Word of mouth, multiple purchases per client, and product placement
Explanation:
Variables are time, object, substance, event, idea, or category that is being measured.
Dependent variables are not stand-alone variables, that is, their behavior depends on factors and other variables acting on them. How a dependent variable behaves is a net result of the influence of all the other factors and other variables. Dependent variables are the result of all these factors and other variables. For examples, the scores you get in an exam depends on how much time you allocated to study for the subject, how much rest you’ve had the night before the exam, and even how good your Internet connection while taking the exam. In this scenario, your exam result is the dependent variable.
Independent variables are variables that doesn’t change. In contrast to the dependent variables, independent variables are not affected by factors or other variables acting on it. Independent variables cause the change on dependent variables. In the scenario above, the time you allocated to study for the subject, the amount of rest you’ve had the night before the exam, and your Internet connection speed while taking the exam are the independent variables.
Extraneous variable are not variables but can affect the dependent variables and the result of the study. In the scenario, the online seller wants to make sure that only the independent variable (item prices are indicated in the posts) is affecting the sale. However, other variables, such as when a PM-for-price product is getting free advertisement, or if there’s one buyer who purchase more PM-for-price product, or if the PM-for-price product is advertised in a better platform. These three variables can make the seller think that not posting the price of the product and asking the buyer to PM instead is a better marketing strategy.
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