Dear Mich, if you want to know if your product is overpriced or not, then you need to have a standard by which you can compare. The price of products is dictated by the law of supply and demand. And at the end of the day, the final measure of the price is the willingness of people to pay for that product.
Therefore, considering whether a product is overpriced or not is just a matter of consumer perception. You may then have to ask customers if the price of organic products is overpriced or not compared to what people think the price of an organic product should be. Another way would be to ask people how much additional cost they are willing to pay to buy an organic product. The average additional cost may be assumed as the price limit for a product that is not overpriced.
I hope that helps. Thank you for visiting .
In the design of experiments , two or more "treatments" are applied to estimate the difference between the mean responses for the treatments. For example, an experiment on baking bread could estimate the difference in the responses associated with quantitative variables, such as the ratio of water to flour, and with qualitative variables, such as strains of yeast. Experimentation is the step in the scientific method that helps people decide between two or more competing explanations – or hypotheses . These hypotheses suggest reasons to explain a phenomenon, or predict the results of an action. An example might be the hypothesis that "if I release this ball, it will fall to the floor": this suggestion can then be tested by carrying out the experiment of letting go of the ball, and observing the results. Formally, a hypothesis is compared against its opposite or null hypothesis ("if I release this ball, it will not fall to the floor"). The null hypothesis is that there is no explanation or predictive power of the phenomenon through the reasoning that is being investigated. Once hypotheses are defined, an experiment can be carried out and the results analysed to confirm, refute, or define the accuracy of the hypotheses.